Guideline Value for Nagireddy Street Cross Street

Nagireddy Street Cross Street guideline value

The current guideline value of Nagireddy Street Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Nagireddy Street Cross Street has changed

The guideline value for Nagireddy Street Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The 2023 revision saw an increase to Rs 4,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Between the years, the guideline value has changed significantly. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value 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, placing Nagireddy Street Cross Street's 2024 figure above that median.

• Nagireddy Street: Rs 4,400 per sq.ft (2024)
• Nageeran Street: Rs 4,950 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 Nagireddy Street Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the 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 Nagireddy Street Cross Street?

The Sub Registrar Office that covers Nagireddy Street Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is an essential factor during property registration in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the legal value of the property. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nagireddy Street Cross Street?

The current guideline value of Nagireddy Street Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the registration office for Nagireddy Street Cross Street?

The registration office for Nagireddy Street Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is valued accurately for legal purposes.