Guideline Value for Nammaalvar Street

Nammaalvar Street guideline value

The current guideline value of Nammaalvar Street in Perungalathur village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class III Type - I.

How the guideline value of Nammaalvar Street has changed

The guideline value for Nammaalvar Street has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, this figure dropped to Rs 1,206 per sq.ft in 2017. The value then rose to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

Notable changes between the revisions include a remarkable increase of 620% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and there was a further increase of 10% from 2023 to 2024. Overall, the guideline value has increased by 692% from 2007 to 2024.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Nammaalvar Street's 2024 figure below the median.

• Nadesan Nagar: Rs 3,960 per sq.ft (2024)
• Muthuvelar Street: Rs 1,980 per sq.ft (2024)
• Muthirulandi Street: Rs 1,980 per sq.ft (2024)
• Nehru Nedunchalai: Rs 2,970 per sq.ft (2024)
• Nehru Street: Rs 2,970 per sq.ft (2024)
• Nethaji Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Nammaalvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Nammaalvar Street?

The Sub Registrar Office that covers Nammaalvar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the registration office will refer to the guideline value to assess the applicable duties. This ensures that the fees are calculated based on the established rates, providing transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nammaalvar Street?

The current guideline value of Nammaalvar Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, with several revisions in between. The most recent revision in 2024 saw an increase of 10% from the previous year.

What is the median guideline value in Perungalathur?

The median guideline value for streets in Perungalathur is Rs 2,310 per sq.ft, which is above the current guideline value of Nammaalvar Street.

What are the stamp duty and registration fees for properties in Nammaalvar Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are based on the guideline value.

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

The Sub Registrar Office for Nammaalvar Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.