Guideline Value for Nagarathinammal Colony Block 62

Nagarathinammal Colony Block 62 guideline value

The current guideline value of Nagarathinammal Colony Block 62 is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class II Type - III.

How the guideline value of Nagarathinammal Colony Block 62 has changed

The guideline value for Nagarathinammal Colony Block 62 has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a rise of 588%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 6,000 per sq.ft, reflecting an increase of 63% from the 2017 figure. The register has no figure for the years 2023, 2003, and 2002.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft. Nagarathinammal Colony Block 62's current guideline value is above this median.

• Nagappan Street: Rs 4,100 per sq.ft (2024)
• Nagappan Lane: Rs 4,100 per sq.ft (2024)
• Nagathamman Koil Street: Rs 5,500 per sq.ft (2024)
• Nagathamman Koil Street Block 88, 89, 90: Rs 5,500 per sq.ft (2024)
• Nagathamman Koil Street(Extension): Rs 5,500 per sq.ft (2024)
• Nakkeeran Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinammal Colony Block 62

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees together to Rs 5,40,000. 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 more details.

Which Sub Registrar Office covers Nagarathinammal Colony Block 62?

The Sub Registrar Office that covers Nagarathinammal Colony Block 62 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When you proceed with a property transaction, ensure that you are aware of the current guideline value applicable to the property. This will help you understand the financial implications of the transaction, including the fees that will be incurred during the registration process.

Frequently asked questions

What is the current guideline value of Nagarathinammal Colony Block 62?

The current guideline value of Nagarathinammal Colony Block 62 is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 650%.

What is the land classification for Nagarathinammal Colony Block 62?

Nagarathinammal Colony Block 62 is classified as Residential Class II Type - III.

Where can I find the Ashok Nagar Sub Registrar Office?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office).

How is stamp duty calculated for properties in Nagarathinammal Colony Block 62?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.