Guideline Value for Nasarathpuram

Nasarathpuram guideline value

The current guideline value of Nasarathpuram is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Nasarathpuram has changed

The guideline value for Nasarathpuram has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 246 per sq.ft. This increased to Rs 320 per sq.ft in 2003, marking a 30% rise. By 2007, the value jumped significantly to Rs 800 per sq.ft, reflecting a 150% increase. The 2012 revision saw the value rise to Rs 3,000 per sq.ft, which was a substantial 275% increase from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and it further increased to Rs 3,300 per sq.ft in 2024, marking a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1241%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Parangimalai

In Parangimalai village, there are 233 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft, with a median value of Rs 3,850 per sq.ft. The guideline value for Nasarathpuram is below this median.

• Nathat Subedhar Street: Rs 4,400 per sq.ft (2024)
• Nazarathpuram: Rs 3,300 per sq.ft (2024)
• Nazarathpuram Road: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 3,850 per sq.ft (2024)
• Nethaji Nagar: Rs 3,850 per sq.ft (2024)
• Muthurangam Mudali Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nasarathpuram

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nasarathpuram?

The Sub Registrar Office that covers Nasarathpuram is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Parangimalai. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during registration.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nasarathpuram?

The current guideline value of Nasarathpuram 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 seen several revisions, increasing from Rs 246 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1241%.

What is the registration office for Nasarathpuram?

The registration office for Nasarathpuram is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for a property in Nasarathpuram?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find more information about stamp duty and registration fees?

You can find more information and calculate fees using the stamp duty and registration fee calculator.