Guideline Value for Nambi street

Nambi street guideline value

The current guideline value of Nambi street in Poonthamallee village, under the Poonamallee SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Nambi street has changed

The guideline value of Nambi street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 1,340 per sq.ft in 2017, which was a reduction of 33%. The value saw a substantial increase to Rs 2,000 per sq.ft in 2023, and then further rose to the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for Nambi street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Nambi street.

• Nambi Nagar Main Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar First Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Street 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nambi street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nambi street?

The Sub Registrar Office that covers Nambi street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects a fair value based on the established guidelines.

Frequently asked questions

What is the current guideline value of Nambi street?

The current guideline value of Nambi street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Nambi street?

Nambi street is classified as Residential Class II Type - I, which is significant for determining its guideline value and other regulations.

What are the stamp duty and registration fees for a property on Nambi street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Nambi street?

The Poonamallee Sub Registrar Office handles the registration for Nambi street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.