Guideline Value for Nageeran Street

Nageeran Street guideline value

The current guideline value of Nageeran Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Nageeran Street has changed

The guideline value for Nageeran Street has seen several revisions over the years. In the 2012 revision, the value was Rs 4,500 per sq.ft. This figure remained unchanged until the 2023 revision, where it was again Rs 4,500 per sq.ft. However, in the 2024 revision, the value increased to Rs 4,950 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for Nageeran Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, indicating that Nageeran Street's 2024 figure is above this median.

• Nagireddy Street: Rs 4,400 per sq.ft (2024)
• Nagireddy Street Cross Street: Rs 4,400 per sq.ft (2024)
• Nagarathinammal Street: Rs 4,950 per sq.ft (2024)
• Muthumariamman Street: Rs 4,950 per sq.ft (2024)
• Muthumari Amman Koil Street (Janaki Nagar Extn): Rs 4,950 per sq.ft (2024)
• Narayanasamy Salai: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nageeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nageeran Street?

Nageeran Street falls under the jurisdiction of 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 Valasaravakkam

The guideline value is a crucial factor in the registration process of property transactions in Valasaravakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is documented at a recognized value, which helps maintain transparency and fairness in the real estate market. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Nageeran Street?

The current guideline value for Nageeran Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nageeran Street has increased from Rs 4,500 per sq.ft in 2012 to Rs 4,950 per sq.ft in 2024, reflecting a 10% increase overall.

What are the stamp duty rates for properties in Nageeran Street?

The stamp duty for properties in Nageeran Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nageeran Street?

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

What are the other streets in Valasaravakkam with guideline values?

Other streets in Valasaravakkam include Nagireddy Street and Nagarathinammal Street, with guideline values of Rs 4,400 and Rs 4,950 per sq.ft respectively in 2024.