Guideline Value for New Narmada Nagar 3rd Street

New Narmada Nagar 3rd Street guideline value

The current guideline value of New Narmada Nagar 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of New Narmada Nagar 3rd Street has changed

The guideline value for New Narmada Nagar 3rd Street has seen several revisions over the years. In 2002, the guideline value was Rs 234 per sq.ft. This increased significantly to Rs 262 per sq.ft in 2003, marking a 12% rise. Following this, the value surged to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 358%. The value then rose to Rs 2,500 per sq.ft in 2012, which was an increase of 108%. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The subsequent revisions saw the value increase to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,097%. The register has no figure for New Narmada Nagar 3rd Street for the years not listed in the revisions above.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the current value of New Narmada Nagar 3rd Street.

• New Narmada Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar main: Rs 2,800 per sq.ft (2024)
• Nethaji Street: Rs 2,200 per sq.ft (2024)
• N S K Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in New Narmada Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total 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 guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Narmada Nagar 3rd Street?

The Sub Registrar Office that covers New Narmada Nagar 3rd Street 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 additional assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government during the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value for New Narmada Nagar 3rd Street?

The current guideline value for New Narmada Nagar 3rd Street 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 increased from Rs 234 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1,097%.

What is the land classification for New Narmada Nagar 3rd Street?

New Narmada Nagar 3rd Street is classified as Residential Class II Type - I.

Which office handles the registration for New Narmada Nagar 3rd Street?

The Alandur Sub Registrar Office handles the registration for New Narmada Nagar 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.