Guideline Value for Narmadha Nagar

Narmadha Nagar guideline value

The current guideline value of Narmadha Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Narmadha Nagar has changed

The guideline value for Narmadha Nagar has seen several revisions over the years. In 2002, the value was Rs 234 per sq.ft, which increased to Rs 262 per sq.ft in 2003. Following that, the value rose significantly to Rs 1,000 per sq.ft in 2007, marking a 282% increase. In 2012, the value was Rs 2,500 per sq.ft, which was a 150% increase from the previous revision. However, this figure dropped by 33% to Rs 1,675 per sq.ft in 2017. The value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,800 per sq.ft in 2024, reflecting a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1097%. There are no figures available for the revisions in years other than those listed.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median set at Rs 2,800 per sq.ft. Narmadha Nagar's 2024 figure aligns with this median.

• Navalar Street: Rs 2,200 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 6th Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Nanganallur Co-Operative Building Society Colony 21st Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Building Society Colony 19th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Narmadha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Narmadha Nagar?

The Narmadha Nagar area falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Ullagaram. It serves as the basis for calculating the stamp duty and registration fees that buyers and sellers must pay during the transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This is essential for maintaining transparency in property dealings and ensuring that all legal requirements are met.

Frequently asked questions

What is the current guideline value of Narmadha Nagar?

The current guideline value of Narmadha Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 234 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1097% over the years.

What are the other streets in Ullagaram and their guideline values?

Other streets in Ullagaram include Navalar Street at Rs 2,200 per sq.ft, and several streets in the Nanganallur Co-operative Building Society Colony with values ranging from Rs 3,900 to Rs 5,000 per sq.ft.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where is the Sub Registrar Office for Narmadha Nagar located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.