Guideline Value for Nageswara Road

Nageswara Road guideline value

The current guideline value of Nageswara Road in Nungambakkam village is Rs 10,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai Central Joint II SRO and is classified as Commercial Class I Type - I.

How the guideline value of Nageswara Road has changed

The guideline value for Nageswara Road has seen significant changes over the years. In the 2007 revision, the value was Rs 4,200 per sq.ft, which increased to Rs 9,500 per sq.ft in 2012, marking a 126% rise. However, between 2012 and 2017, the value decreased to Rs 6,365 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 9,500 per sq.ft, which then rose to Rs 10,400 per sq.ft in the 2024 revision, a 9% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 148%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Nageswara Road's 2024 figure above this median.

• Namachivayapuram: Rs 6,600 per sq.ft (2024)
• Namashivayapuram (facing Nelson Manickam Road): Rs 9,900 per sq.ft (2024)
• Nachiappan Street: Rs 9,300 per sq.ft (2024)
• Muthusamy Street: Rs 7,100 per sq.ft (2024)
• Nanjil Manoharan Nagar: Rs 7,700 per sq.ft (2024)
• Narayanan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nageswara Road

For a 1,000 sq.ft plot at the current guideline value of Rs 10,400 per sq.ft, the total guideline value amounts to Rs 1,04,00,000. The stamp duty at 7% would be Rs 7,28,000, and the registration fee at 2% would be Rs 2,08,000, bringing the total fees to Rs 9,36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nageswara Road?

The Sub Registrar Office that covers Nageswara Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nageswara Road?

The current guideline value of Nageswara Road is Rs 10,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,200 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, marking an overall increase of 148% over the years.

What is the land classification for Nageswara Road?

Nageswara Road is classified as Commercial Class I Type - I under the Chennai Central Joint II SRO.

What are the stamp duty and registration fees for properties in Nageswara Road?

For a property valued at Rs 1,04,00,000, the stamp duty would be Rs 7,28,000 and the registration fee would be Rs 2,08,000, totaling Rs 9,36,000.

Where can I find the Sub Registrar Office for Nageswara Road?

The Sub Registrar Office for Nageswara Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.