Guideline Value for Narmatha Street(GANGA NAGAR)

Narmatha Street(GANGA NAGAR) guideline value

The current guideline value of Narmatha Street(GANGA NAGAR) in Moovarasampattu village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of Narmatha Street(GANGA NAGAR) has changed

The guideline value of Narmatha Street(GANGA NAGAR) has seen several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 362% rise. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 408%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median being Rs 3,300 per sq.ft. Narmatha Street(GANGA NAGAR) aligns with this median value.

• Muvarasampattu Main Road: Rs 4,400 per sq.ft (2024)
• Mount Medavakkam Road: Rs 5,500 per sq.ft (2024)
• Medavakkam Main Road: Rs 5,500 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 3,300 per sq.ft (2024)
• Madipakkam Main Road: Rs 3,300 per sq.ft (2024)
• Raghava Nagar 10th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Narmatha Street(GANGA NAGAR)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Narmatha Street(GANGA NAGAR)?

The Sub Registrar Office that covers Narmatha Street(GANGA NAGAR) is 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 more information.

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

The guideline value plays a crucial role in property transactions in Moovarasampattu. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. Accurate knowledge of these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Narmatha Street(GANGA NAGAR)?

The current guideline value of Narmatha Street(GANGA NAGAR) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 408% over the years.

What is the land classification for Narmatha Street(GANGA NAGAR)?

Narmatha Street(GANGA NAGAR) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Narmatha Street(GANGA NAGAR)?

The Sub Registrar Office for Narmatha Street(GANGA NAGAR) is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Narmatha Street(GANGA NAGAR)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 2,31,000.