Guideline Value for Nammaiah Street

Nammaiah Street guideline value

The current guideline value of Nammaiah Street in Tondaiarpet village, under the Royapuram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Nammaiah Street has changed

The guideline value of Nammaiah Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 700 per sq.ft. This increased significantly to Rs 1,675 per sq.ft in 2017, marking a change of +139%. By 2023, the value rose to Rs 2,500 per sq.ft, reflecting a +49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of +8% from 2023.

Overall, from 2007 to 2024, the guideline value has increased by +286%. It is important to note that there are no recorded figures for Nammaiah Street in the revisions for the years 2002, 2003, and 2012.

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 Nammaiah Street's 2024 figure above this median.

• Namasivaya Mudali Street: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam Street: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 6th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 5th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 3rd Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nammaiah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nammaiah Street?

The Sub Registrar Office that covers Nammaiah 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 is a crucial factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nammaiah Street?

The current guideline value of Nammaiah Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification of Nammaiah Street?

Nammaiah Street is classified as Residential Special Type - II under the current guidelines.

Where can I find the registration office for Nammaiah Street?

The registration office for Nammaiah Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Nammaiah Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.