Guideline Value for Narasimha Nagar

Narasimha Nagar guideline value

The current guideline value of Narasimha Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Narasimha Nagar has changed

The guideline value of Narasimha Nagar has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, marking a substantial rise of 235%. The 2023 revision set the value at Rs 2,000 per sq.ft, reflecting a 49% increase from the previous revision. The most recent revision in 2024 has raised the guideline value to Rs 2,200 per sq.ft, an increase of 10% from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street, indicating that the guideline value was not established during those years. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pozhichalur

In Pozhichalur, there are a total of 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Narasimha Nagar's 2024 value above this median.

• Nataraja Mudaliar Avenue: Rs 1,100 per sq.ft (2024)
• NAMMAZHVAR 3rd STREET (RAMACHANDRA NAGAR): Rs 2,750 per sq.ft (2024)
• Namazhvar Street: Rs 1,320 per sq.ft (2024)
• Natesan Street: Rs 1,100 per sq.ft (2024)
• Nedunchiyan Street: Rs 1,100 per sq.ft (2024)
• Nehru Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasimha Nagar?

The Sub Registrar Office that covers Narasimha Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in real estate transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasimha Nagar?

The current guideline value of Narasimha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 450% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Narasimha Nagar?

The Pammal Sub Registrar Office covers Narasimha Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Narasimha Nagar?

The land classification for Narasimha Nagar is Commercial Class I Type - I, indicating its suitability for commercial activities.