Guideline Value for Nagathamman Koil Street

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Nagathamman Koil Street has changed

The guideline value for Nagathamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 581 per sq.ft, which increased to Rs 635 per sq.ft in 2003, marking a 9% rise. Following this, the value saw a significant increase to Rs 850 per sq.ft in 2007, representing a 34% change. The 2012 revision brought the value back to Rs 3,000 per sq.ft, a 253% increase from the previous figure. However, in 2017, it dropped to Rs 2,010 per sq.ft, reflecting a 33% decrease. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 468%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that Nagathamman Koil Street's 2024 figure is below this median.

• Nagappan Street: Rs 3,300 per sq.ft (2024)
• Nadigar Thilagam Shivaji Ganesan Nagar: Rs 3,300 per sq.ft (2024)
• Nallan Street: Rs 3,300 per sq.ft (2024)
• Muthuramalinga Street: Rs 5,500 per sq.ft (2024)
• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Muthukumarappa Road: Rs 9,900 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 information.

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 Saligramam

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Buyers should ensure they are informed about the latest revisions to avoid any unexpected costs during registration.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

The current guideline value of Nagathamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 581 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 468% over this period.

What is the land classification for Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value, which is Rs 3,300 per sq.ft for Nagathamman Koil Street. The duty is charged on the higher of the guideline value or the sale price.