Guideline Value for Nagarathinam Nagar

Nagarathinam Nagar guideline value

The current guideline value of Nagarathinam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kadaperi village, under the Tambaram Joint 1 SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nagarathinam Nagar has changed

The guideline value for Nagarathinam Nagar has undergone several revisions over the years. The earliest recorded value is from 2007, when it was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, the value saw a decline to Rs 2,010 per sq.ft in 2017, a decrease of 33%. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and then to the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 450%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Nagarathinam Nagar's 2024 figure above this median.

• Muthumariamman Koil Street: Rs 1,320 per sq.ft (2024)
• Muthtamil Nagar: Rs 1,320 per sq.ft (2024)
• Munuswamy Street: Rs 1,650 per sq.ft (2024)
• Munuswamy Naidu Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar: Rs 880 per sq.ft (2024)
• Nehru Street (GST Road): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagarathinam Nagar?

The Sub Registrar Office covering Nagarathinam Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kadaperi

The guideline value plays a crucial role during property transactions in Kadaperi. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value is set by the government and is periodically revised based on market conditions.

When a property is registered, the buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nagarathinam Nagar?

The current guideline value of Nagarathinam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Nagarathinam Nagar?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Nagarathinam Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Nagarathinam Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Nagarathinam Nagar?

Nagarathinam Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.