Guideline Value for Nallamuthu Street

Nallamuthu Street guideline value

The current guideline value of Nallamuthu Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village, under the Ambattur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nallamuthu Street has changed

Over the years, the guideline value for Nallamuthu Street has seen significant changes. The earliest recorded figure is from 2002, which was Rs 135 per sq.ft. This increased to Rs 146 per sq.ft in 2003, marking an 8% rise. The value then saw a substantial increase to Rs 400 per sq.ft in 2007, which was a 174% jump. Following this, the value rose dramatically to Rs 1,500 per sq.ft in 2012, reflecting a 275% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,600 per sq.ft in the 2024 revision, which is a 7% increase from the previous year.

In total, from 2002 to 2024, the overall increase in the guideline value for Nallamuthu Street is 1085%. There are no revisions for this street in the years not mentioned above.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Nallamuthu Street's current value is below this median.

• Nainiammal Street: Rs 1,600 per sq.ft (2024)
• Nagathamman Street A.K.A.Nagar: Rs 1,400 per sq.ft (2024)
• Nagathamman Koil Street(A.K.A): Rs 1,400 per sq.ft (2024)
• Naganathan Street: Rs 2,400 per sq.ft (2024)
• Nagammai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Muthuvalli Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nallamuthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, while the registration fee, at 2%, would be Rs 32,000. Therefore, the total cost for these fees would be Rs 1,44,000. 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 Nallamuthu Street?

Nallamuthu Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Oragadam. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is taken into account to calculate the necessary fees. This ensures that the transaction is officially recorded and that the appropriate taxes are paid, based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nallamuthu Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 135 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 1085% over this period.

What is the registration office for Nallamuthu Street?

Nallamuthu Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties on Nallamuthu Street?

Stamp duty for properties on Nallamuthu Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,600 per sq.ft, the stamp duty would be Rs 1,12,000.

What are the guideline values of other streets in Oragadam?

Other streets in Oragadam have varying guideline values. For instance, Nainiammal Street has a guideline value of Rs 1,600 per sq.ft, while Naganathan Street has a higher value of Rs 2,400 per sq.ft.