Guideline Value for N.T.R. LAND

N.T.R. Land guideline value

The current guideline value for N.T.R. Land in Pammathukulam village is Rs 660 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification and is registered with the Redhills SRO.

How the guideline value of N.T.R. Land has changed

The guideline value for N.T.R. Land has seen several revisions over the years. From the 2012 revision, where it was set at Rs 600 per sq.ft, it decreased to Rs 402 per sq.ft in 2017. However, following this dip, the value increased significantly to Rs 600 per sq.ft in 2023, marking a 49% rise since 2017. The most recent revision in 2024 has further increased the value to Rs 660 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pammathukulam

Pammathukulam village has a total of 101 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing N.T.R. Land's current value above this median.

• Om Ganapathy Nagar: Rs 820 per sq.ft (2024)
• Om Velayutham Nagar: Rs 660 per sq.ft (2024)
• New Valli Nagar: Rs 550 per sq.ft (2024)
• Pari Nagar: Rs 660 per sq.ft (2024)
• Nalli Nagar: Rs 550 per sq.ft (2024)
• Perumal Koil Street: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in N.T.R. Land

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for stamp duty and registration fee would be Rs 59,400. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers N.T.R. Land?

The N.T.R. Land property is covered by the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Pammathukulam. It serves as a benchmark for determining the minimum price at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established rates set by the government.

Frequently asked questions

What is the current guideline value of N.T.R. Land?

The current guideline value of N.T.R. Land is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the registration office for N.T.R. Land?

The registration office for N.T.R. Land is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty rates for N.T.R. Land?

The stamp duty for property in N.T.R. Land is charged at 7% of the guideline value or sale price, whichever is higher.

What is the median guideline value in Pammathukulam?

The median guideline value for the streets in Pammathukulam is Rs 550 per sq.ft, with N.T.R. Land's value of Rs 660 per sq.ft being above this median.