Guideline Value for Nagathamman Street (or) Usman Basha Road

Nagathamman Street (or) Usman Basha Road guideline value

The current guideline value of Nagathamman Street (or) Usman Basha Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nagathamman Street (or) Usman Basha Road has changed

The guideline value for Nagathamman Street (or) Usman Basha Road has undergone several revisions over the years. Starting from Rs 438 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a 37% rise. The value then saw a significant jump to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

It is important to note that the register has no figure for Nagathamman Street (or) Usman Basha Road for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 653%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Nagathamman Street (or) Usman Basha Road.

• Nagathamman Street @ Usman Basha Street: Rs 3,300 per sq.ft (2024)
• Naidu Shop Road: Rs 3,520 per sq.ft (2024)
• Nakkiran Street: Rs 3,520 per sq.ft (2024)
• Nagalakshmi Street: Rs 3,300 per sq.ft (2024)
• Naladiyar Street: Rs 2,750 per sq.ft (2024)
• Namalvar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagathamman Street (or) Usman Basha Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagathamman Street (or) Usman Basha Road?

The Sub Registrar Office that covers Nagathamman Street (or) Usman Basha Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nagathamman Street?

The current guideline value of Nagathamman Street (or) Usman Basha Road 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 438 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 653% over the years.

What is the land classification for Nagathamman Street?

Nagathamman Street (or) Usman Basha Road is classified as Residential Class I Type - II.

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

The Sub Registrar Office covering Nagathamman Street (or) Usman Basha Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 2,97,000.