Guideline Value for S.V. Nagarathinam Street

S.V. Nagarathinam Street guideline value

The current guideline value of S.V. Nagarathinam Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of S.V. Nagarathinam Street has changed

The guideline value for S.V. Nagarathinam Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, the value then decreased to Rs 2,512 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 brought the value up to Rs 3,750 per sq.ft, and the latest revision in 2024 has set it at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing S.V. Nagarathinam Street's 2024 figure below that median.

• S.V. Lingam (Road) (Salai): Rs 7,000 per sq.ft (2024)
• S.V. Chidambaram Salai Block 78: Rs 4,900 per sq.ft (2024)
• Susila Street: Rs 4,100 per sq.ft (2024)
• Swamy Nathan Street: Rs 4,100 per sq.ft (2024)
• Sunday Observer Balasubramaniyam Street: Rs 4,900 per sq.ft (2024)
• Sundar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.V. Nagarathinam Street

For a 1,000 sq.ft plot at the current rate of Rs 4,100 per sq.ft, the guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers S.V. Nagarathinam Street?

The Sub Registrar Office that covers S.V. Nagarathinam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of S.V. Nagarathinam Street?

The current guideline value of S.V. Nagarathinam Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, showing an overall increase of 413% over the years.

What is the registration office for S.V. Nagarathinam Street?

The registration office for S.V. Nagarathinam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,69,000, based on the guideline value of Rs 41,00,000.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is taken into account for calculating these charges.