Guideline Value for Nagathamman Koil Street

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nagathamman Koil Street has changed

The guideline value for Nagathamman Koil Street has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 400 per sq.ft. This was followed by a decrease to Rs 268 per sq.ft in 2017. The value then increased significantly to Rs 400 per sq.ft in 2023, and finally rose to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between 2012 and 2017, there was a decline of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. Overall, the change from 2012 to 2024 shows a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. Nagathamman Koil Street's 2024 figure is below this median.

• Murugan Nagar Phase-IV: Rs 2,200 per sq.ft (2024)
• Murugan Nagar Phase - III: Rs 2,200 per sq.ft (2024)
• Murugan Nagar Phase II: Rs 3,300 per sq.ft (2024)
• Murugan Nagar Phase I: Rs 3,300 per sq.ft (2024)
• New Vision Township: Rs 2,480 per sq.ft (2024)
• New Vision Township Phase - I: Rs 2,480 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, together totaling Rs 39,600. It is important to note that 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 Nagathamman Koil Street?

The Sub Registrar Office that covers Nagathamman Koil Street 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 Vengambakkam

The guideline value is a crucial factor during property transactions in Vengambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of this value to make informed decisions and comply with legal requirements 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 400 to Rs 268 in 2017, then increased to Rs 400 in 2023, and finally to Rs 440 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class I Type - III. This classification is important for understanding the zoning and permissible uses of the land.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For instance, for a 1,000 sq.ft plot valued at Rs 4,40,000, the total fees would amount to Rs 39,600.

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

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. This office handles the registration of properties in the area.