Guideline Value for Nagoji Street

Nagoji Street guideline value

The current guideline value of Nagoji Street, located in Triplicane village under the Triplicane SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class I Type - I.

How the guideline value of Nagoji Street has changed

Over the years, the guideline value for Nagoji Street has undergone several revisions. The 2003 revision recorded a value of Rs 1,316 per sq.ft, which increased to Rs 1,650 per sq.ft in 2007, marking a rise of 25%. The value then surged significantly to Rs 6,000 per sq.ft in 2012, reflecting a remarkable increase of 264%. However, the subsequent revision in 2017 saw a decrease to Rs 4,020 per sq.ft, a drop of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figure for the year 2002 for this street.

In summary, the guideline value has changed from Rs 1,316 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, showcasing an overall increase of 402%. The most significant jump occurred between the 2007 and 2012 revisions, while the 2017 revision marked the only decline in this period.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Nagoji Street.

• Nair Iyya Pillai Street: Rs 6,600 per sq.ft (2024)
• Nair Varadha Pillai Street: Rs 6,600 per sq.ft (2024)
• Nagappa Iyer Street (mayor Chittibabu Street): Rs 8,800 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nagoji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagoji Street?

The Sub Registrar Office that covers Nagoji Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Triplicane. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on the official valuation of the property.

Additionally, the guideline value serves as a benchmark for property transactions in the area. It helps in maintaining transparency and consistency in property dealings, ensuring that all parties involved are aware of the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Nagoji Street?

The current guideline value of Nagoji Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,316 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, with various increases and one decrease between the revisions.

What is the land classification for Nagoji Street?

Nagoji Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nagoji Street?

The Sub Registrar Office for Nagoji Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Nagoji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at 7%.