Guideline Value for Nagarajan Street

Nagarajan Street guideline value

The current guideline value of Nagarajan Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Nagarajan Street has changed

The guideline value for Nagarajan Street has undergone several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2023, and most recently, it has increased to Rs 950 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, from 2007 to 2012, there was a 100% increase, followed by a 33% decrease from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 111%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the 2024 figure for Nagarajan Street below this median.

• Nagammal Street: Rs 950 per sq.ft (2024)
• Nagammai Street: Rs 950 per sq.ft (2024)
• Nakkeeran Street: Rs 950 per sq.ft (2024)
• Nalvar Street: Rs 1,400 per sq.ft (2024)
• Muthusamy Street: Rs 1,600 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty, charged at 7%, would be Rs 66,500, and the registration fee, at 2%, would be Rs 19,000, making the total charges Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nagarajan Street?

The Sub Registrar Office that covers Nagarajan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Selaiyur

The guideline value is a crucial factor when registering property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the transaction process. Buyers and sellers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used for calculating the applicable fees.

When purchasing property, it is essential to consider the guideline value as it reflects the official valuation set by the government. This value helps ensure transparency and fairness in property transactions, providing a standard reference point for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Nagarajan Street?

The current guideline value of Nagarajan Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 450 per sq.ft in 2007, rising to Rs 900 in 2012, then decreasing to Rs 603 in 2017, and increasing again to Rs 900 in 2023 before reaching Rs 950 in 2024.

What is the land classification for Nagarajan Street?

Nagarajan Street is classified as Residential Class IV Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Nagarajan Street?

For a property valued at Rs 9,50,000, the stamp duty is Rs 66,500, and the registration fee is Rs 19,000, totaling Rs 85,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nagarajan Street located?

The Sub Registrar Office for Nagarajan Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.