Guideline Value for Nagathamman Koil Street

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Soorapattu village under the Ambattur Sub Registrar Office (SRO) and falls under the Residential Class II Type - II land classification.

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 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in 2017. The subsequent revision in 2023 increased the value to Rs 1,100 per sq.ft, followed by the current 2024 revision, which raised it to Rs 1,200 per sq.ft.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 9% increase. Overall, comparing the guideline value from 2012 to 2024, there has been a net increase of 9%. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median guideline value in this village is Rs 1,300 per sq.ft, making Nagathamman Koil Street's 2024 figure below that median.

• Nagathamman Koil Street Survey No.114/2A,2B,2C: Rs 4,478 per sq.ft (2024)
• Murugambedu Main Road: Rs 1,600 per sq.ft (2024)
• Navganesh Nagar: Rs 2,400 per sq.ft (2024)
• Nehru Street: Rs 1,200 per sq.ft (2024)
• Nethaji Street: Rs 1,200 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, which totals Rs 84,000, and the registration fee is charged at 2%, amounting to Rs 24,000. Together, the total fees would be Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagathamman Koil Street?

The Nagathamman Koil Street falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Soorapattu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft in 2024.

What is the land classification of Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class II Type - II under the land classification system.

What is the registration office for Nagathamman Koil Street?

The registration office for Nagathamman Koil Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Nagathamman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.