Guideline Value for Nanbarkal nagar

Nanbarkal nagar guideline value

The current guideline value of Nanbarkal nagar is Rs 2,740 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nanbarkal nagar has changed

The guideline value for Nanbarkal nagar has seen significant changes over the years. Starting from the 2007 revision, the value was Rs 500 per sq.ft. This increased dramatically to Rs 2,500 per sq.ft in the 2012 revision, marking a 400% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, representing a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,740 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 448%. The substantial fluctuations in value reflect various revisions, with the most recent value of Rs 2,740 per sq.ft indicating a strong position in the current market.

Guideline values in Poonthamallee

In Poonthamallee village, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Nanbarkal nagar's 2024 figure above this median.

• Nambi street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar Main Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar First Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nanbarkal nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value would be Rs 27,40,000. The stamp duty at 7% would amount to Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total charges to Rs 2,46,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nanbarkal nagar?

The Sub Registrar Office covering Nanbarkal nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are protected during the transaction process.

Frequently asked questions

What is the current guideline value of Nanbarkal nagar?

The current guideline value of Nanbarkal nagar is Rs 2,740 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 500 per sq.ft in 2007 to Rs 2,740 per sq.ft in 2024, reflecting an overall increase of 448% over the years.

What are the stamp duty and registration fees for property in Nanbarkal nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 27,40,000, with stamp duty at 7% amounting to Rs 1,91,800 and registration fees at 2% totaling Rs 54,800.

Which office handles property registrations in Nanbarkal nagar?

The Poonamallee Sub Registrar Office handles property registrations in Nanbarkal nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It ensures that the transaction is legally compliant and protects the interests of both buyers and sellers.