Guideline Value for Naprat Nagar

Naprat Nagar guideline value

The current guideline value of Naprat Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Naprat Nagar has changed

Over the years, the guideline value of Naprat Nagar has seen significant changes. In 2002, the guideline value was Rs 55 per sq.ft, which increased to Rs 77 per sq.ft in 2003. The value continued to rise, reaching Rs 400 per sq.ft in 2007. By 2012, it had increased to Rs 1,800 per sq.ft, but then dropped to Rs 1,206 per sq.ft in 2017. The value saw a substantial increase to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,960 per sq.ft as per the 2024 revision.

The changes between revisions reflect a notable trend. From 2023 to 2024, there was an increase of 9%. The period from 2017 to 2023 saw a significant rise of 49%. However, from 2012 to 2017, there was a decrease of 33%. The increase from 2007 to 2012 was substantial at 350%, while the rise from 2003 to 2007 was even higher at 419%. Overall, from 2002 to 2024, the guideline value has increased by 3464%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 2,750 per sq.ft, placing Naprat Nagar's 2024 figure below that median.

• Nandagopal Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar: Rs 1,960 per sq.ft (2024)
• Nehru Nagar Loganathan Street: Rs 1,960 per sq.ft (2024)
• Nesamani Street: Rs 1,960 per sq.ft (2024)
• Muthiah Nagar: Rs 1,980 per sq.ft (2024)
• M.R.Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Naprat Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, leading to a total of Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naprat Nagar?

The Sub Registrar Office that covers Naprat Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer and seller must consider the guideline value for the calculation of stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Naprat Nagar?

The current guideline value of Naprat Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 55 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, reflecting an overall increase of 3464%.

What is the land classification for Naprat Nagar?

Naprat Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,60,000, leading to a stamp duty of Rs 1,37,200 and a registration fee of Rs 39,200, totaling Rs 1,76,400.

Which Sub Registrar Office is responsible for Naprat Nagar?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, covers Naprat Nagar.