Guideline Value for Nagathamman Koil Street

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Nagathamman Koil Street has changed

The guideline value of Nagathamman Koil Street has seen several revisions over the years. In 2007, the guideline value was Rs 930 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The most recent revision in 2024 raised the value to Rs 5,500 per sq.ft, marking a 64% increase from the 2017 figure.

Between the earlier revisions, the value increased dramatically from Rs 930 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2012, representing a 438% rise. Overall, from 2007 to 2024, the guideline value has increased by 491%. The register has no figures for the years 2002, 2003, and 2023 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making Nagathamman Koil Street's 2024 figure of Rs 5,500 per sq.ft above the median.

• 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)
• Nagarathinammal Colony Block 62: Rs 6,000 per sq.ft (2024)
• Nagappan Street: Rs 4,100 per sq.ft (2024)
• Nagappan Lane: Rs 4,100 per sq.ft (2024)
• Nakkeeran Street: 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 rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 Nagathamman Koil Street?

The Sub Registrar Office that covers Nagathamman Koil Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the registration department and reflects the market rate for properties in the area.

When you buy or sell a property, the transaction must be registered with the local Sub Registrar Office, and the guideline value will be the basis for calculating the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

The current guideline value of Nagathamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 930 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 491%.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, while Nagathamman Koil Street's 2024 figure is above this median.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is 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 with a guideline value of Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.