Guideline Value for Nagarathinam Street / Gandhi Nagar

Nagarathinam Street / Gandhi Nagar guideline value

The current guideline value of Nagarathinam Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Nagarathinam Street / Gandhi Nagar has changed

The guideline value for Nagarathinam Street / Gandhi Nagar has seen significant changes over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a rise of 13%. By the 2007 revision, the value had jumped to Rs 360 per sq.ft, reflecting a 69% increase from the previous revision. The most recent revision in 2024 shows a substantial increase to Rs 2,475 per sq.ft, which is a remarkable 588% rise from 2007. Overall, from 2002 to 2024, the guideline value has increased by 1216%.

It is important to note that there are no figures available for the revisions in 2012, 2017, and 2023 for this street. This lack of data does not diminish the significant changes observed in the available revisions.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 2,090 per sq.ft, positioning Nagarathinam Street / Gandhi Nagar above the median with its current value of Rs 2,475 per sq.ft.

• Nagarathinam Street, Easwaran Nagar: Rs 2,750 per sq.ft (2024)
• Nagarathinam Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Nagarathinam Street / Anna Salai: Rs 2,530 per sq.ft (2024)
• Nagarathinam Street / Pasumpon Nagar: Rs 2,475 per sq.ft (2024)
• Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nagelkeni, Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinam Street / Gandhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagarathinam Street / Gandhi Nagar?

The Sub Registrar Office that covers Nagarathinam Street / Gandhi Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Pammal, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nagarathinam Street / Gandhi Nagar?

The current guideline value of Nagarathinam Street / Gandhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly from Rs 188 per sq.ft to Rs 2,475 per sq.ft in 2024, marking an overall increase of 1216%.

What is the land classification for Nagarathinam Street / Gandhi Nagar?

Nagarathinam Street / Gandhi Nagar is classified as Residential Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nagarathinam Street / Gandhi Nagar?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 24,75,000 would incur a stamp duty of Rs 1,73,250 at a rate of 7%.