Guideline Value for NARENDARA NAGAR

Narendara Nagar guideline value

The current guideline value of Narendara Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Chettipunniyam village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Narendara Nagar has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. However, in the 2017 revision, it decreased to Rs 469 per sq.ft, marking a decline of 33%. The following revisions saw a significant increase, with the 2023 revision maintaining the value at Rs 700 per sq.ft, and the 2024 revision also holding steady at Rs 700 per sq.ft, resulting in no change between these two years.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 700 per sq.ft.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft, with a median value of Rs 900 per sq.ft. The guideline value of Narendara Nagar is below this median.

• New Fair Lands Nagar: Rs 1,500 per sq.ft (2024)
• M K Suseela's Hyyag Avenue: Rs 1,500 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 700 per sq.ft (2024)
• Magarantham: Rs 1,500 per sq.ft (2024)
• Rajendra Nagar: Rs 900 per sq.ft (2024)
• Rehapoth Nagar: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Narendara Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narendara Nagar?

The Sub Registrar Office that covers Narendara Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Chettipunniyam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This helps in maintaining uniformity in property transactions across the region.

Frequently asked questions

What is the current guideline value of Narendara Nagar?

The current guideline value of Narendara Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since 2012, with a decrease to Rs 469 per sq.ft in 2017, followed by a return to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Narendara Nagar?

Narendara Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in Narendara Nagar?

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000, and the registration fee is Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Narendara Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Narendara Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.