Guideline Value for Nalathambi Street / Thiru Nagar

Nalathambi Street / Thiru Nagar guideline value

The current guideline value of Nalathambi Street / Thiru Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nalathambi Street / Thiru Nagar has changed

The guideline value for Nalathambi Street / Thiru Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a rise of 13%. The value continued to grow, reaching Rs 570 per sq.ft in 2007, an increase of 168% from the previous revision. By 2017, the guideline value had risen to Rs 1,675 per sq.ft, reflecting a substantial increase of 194% from 2007. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 64% increase from 2017. Notably, there are no figures available for the years 2012 and 2023 in the register for this street.

Overall, from 2002 to 2024, the guideline value has increased by 1,363%, showcasing the significant rise in property values in this area over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Nalathambi Street / Thiru Nagar above this median at Rs 2,750 per sq.ft.

• Nalathambi Street / Sholavaram Nagar: Rs 2,750 per sq.ft (2024)
• Nalathambi Street / Pasumpon Nagar: Rs 2,750 per sq.ft (2024)
• Naladurai School Street: Rs 1,760 per sq.ft (2024)
• Nallathambi Road, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nallathambi Road, Muthamiaz Nagar: Rs 2,750 per sq.ft (2024)
• Nallathambi Street, Nagelkeni: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Nalathambi Street / Thiru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nalathambi Street / Thiru Nagar?

The Sub Registrar Office that covers Nalathambi Street / Thiru Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions.

When a property is registered, the guideline value helps in establishing the official value of the property for legal and taxation purposes. This value is crucial for both parties to understand, as it affects the financial obligations involved in the sale or purchase of the property.

Frequently asked questions

What is the current guideline value of Nalathambi Street / Thiru Nagar?

The current guideline value of Nalathambi Street / Thiru Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 188 per sq.ft to Rs 2,750 per sq.ft in 2024, representing an overall increase of 1,363%.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registration for Nalathambi Street / Thiru Nagar?

The Pammal Sub Registrar Office is responsible for property registration in Nalathambi Street / Thiru Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with the same guideline value in Pammal?

Yes, other streets in Pammal, such as Nalathambi Street / Sholavaram Nagar and Nalathambi Street / Pasumpon Nagar, also have the same guideline value of Rs 2,750 per sq.ft in 2024.