Guideline Value for Nagathamman Koil Kulakkarai Street

Nagathamman Koil Kulakkarai Street guideline value

The current guideline value of Nagathamman Koil Kulakkarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Nagathamman Koil Kulakkarai Street has changed

The guideline value for Nagathamman Koil Kulakkarai Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 389 per sq.ft. In 2003, it increased by 10% to Rs 426 per sq.ft. The 2007 revision saw a significant jump of 17%, bringing the value to Rs 500 per sq.ft. The value rose dramatically in 2012 to Rs 2,000 per sq.ft, reflecting a 300% increase. However, this was followed by a decrease of 33% in 2017, resulting in a guideline value of Rs 1,340 per sq.ft. The 2023 revision recorded an increase of 49%, setting the value at Rs 2,000 per sq.ft, which was then revised again in 2024 to the current value of Rs 2,200 per sq.ft, marking a 10% increase.

There are no figures available for other revisions for this street, ensuring that the listed years are the only ones relevant to the guideline value changes.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Nagathamman Koil Kulakkarai Street's current value below this median.

• Nagathamman Koil Kulakkarai 2nd Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil Kulakkarai 1st Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil 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 Kulakkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total charges to 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagathamman Koil Kulakkarai Street?

The Sub Registrar Office that covers Nagathamman Koil Kulakkarai 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 information.

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

The guideline value is a crucial factor when registering property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential to consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Kulakkarai Street?

The current guideline value of Nagathamman Koil Kulakkarai 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 from Rs 389 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 466% across the years.

What are the other streets in Maduravoyal with the same guideline value?

Other streets in Maduravoyal with the same guideline value of Rs 2,200 per sq.ft in 2024 include Nagathamman Koil Kulakkarai 2nd Street, Nagathamman Koil Kulakkarai 1st Street, Nagathamman Koil Street, and Muthumariamman Nagar.

What is the registration fee for property in Nagathamman Koil Kulakkarai Street?

The registration fee for property in Nagathamman Koil Kulakkarai Street is 2% of the guideline value. For a plot valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sub Registrar Office located for Nagathamman Koil Kulakkarai Street?

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