Guideline Value for Nagoorar Thottam 3rd Cross Street

Nagoorar Thottam 3rd Cross Street guideline value

The current guideline value of Nagoorar Thottam 3rd Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nagoorar Thottam 3rd Cross Street has changed

The guideline value for Nagoorar Thottam 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 600 per sq.ft. This value increased significantly to Rs 1,200 per sq.ft in 2012, marking a 100% increase. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the 2012 figure.

There are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%, showcasing a substantial change over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Nagoorar Thottam 3rd Cross Street's 2024 figure below this median.

• Nagoorar Thottam 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Nagoorar Thottam 3rd Main Road: Rs 1,300 per sq.ft (2024)
• Nagoorar Thottam 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Nagoorar Thottam 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Nagoorar Thottam 1st Main Road: Rs 1,300 per sq.ft (2024)
• Nagoorar Thottam 4th Main Road: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagoorar Thottam 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, calculated at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that the 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 Nagoorar Thottam 3rd Cross Street?

The Sub Registrar Office that covers Nagoorar Thottam 3rd Cross Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, preventing undervaluation and ensuring compliance with local regulations. This helps maintain transparency and integrity in real estate transactions.

Frequently asked questions

What is the current guideline value of Nagoorar Thottam 3rd Cross Street?

The current guideline value of Nagoorar Thottam 3rd Cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, and then to Rs 1,300 per sq.ft in 2024. This represents a total increase of 117% from 2007 to 2024.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Nagoorar Thottam 3rd Cross Street?

The Royapuram Sub Registrar Office handles registrations for Nagoorar Thottam 3rd Cross Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Nagoorar Thottam 3rd Cross Street?

The land classification for Nagoorar Thottam 3rd Cross Street is Residential Class II Type - I, indicating its suitability for residential purposes.