Guideline Value for Nagathamman Koil Street

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class V Type - I.

How the guideline value of Nagathamman Koil Street has changed

The guideline value for Nagathamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 125 per sq.ft, which increased to Rs 137 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,200 per sq.ft.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017. The rise from 2007 to 2012 was substantial at 567%, while the increase from 2003 to 2007 was 119%. The change from 2002 to 2003 was 10%. Overall, from 2002 to 2024, the guideline value has increased by 1660%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. Nagathamman Koil Street's 2024 figure is below this median.

• Nagathamman Koil Kulakkarai Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil Kulakkarai 2nd Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil Kulakkarai 1st Street: Rs 2,200 per sq.ft (2024)
• Muthumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Natesa Nagar: Rs 3,050 per sq.ft (2024)
• Nethaji Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nagathamman Koil Street?

The Sub Registrar Office that covers Nagathamman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

The current guideline value of Nagathamman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 125 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1660% over the years.

What is the land classification for Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class V Type - I under the Virugambakkam SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office manages registrations for Nagathamman Koil Street?

The Virugambakkam Sub Registrar Office manages registrations for Nagathamman Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.