Guideline Value for YOGA NARASIMHAN NAGAR EXTENSION

Yoga Narasimhan Nagar Extension guideline value

The current guideline value of Yoga Narasimhan Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Yoga Narasimhan Nagar Extension has changed

The guideline value for Yoga Narasimhan Nagar Extension has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,320 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. The most significant increase occurred between the 2017 and 2023 revisions, where the value jumped by 49%. The change from 2023 to 2024 represents a 10% increase.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values for 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Yoga Narasimhan Nagar Extension's current value below that median.

• Yoga Narasimhan Nagar: Rs 1,320 per sq.ft (2024)
• 200 Feet Road: Rs 3,850 per sq.ft (2024)
• Yamuna Street: Rs 1,320 per sq.ft (2024)
• Windermere: Rs 4,950 per sq.ft (2024)
• West Anna Nagar 9th Street: Rs 1,320 per sq.ft (2024)
• West Anna Nagar 9th Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Yoga Narasimhan Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty is calculated at 7%, resulting in Rs 92,400, while the registration fee at 2% amounts to Rs 26,400. Together, the total cost for stamp duty and registration fee is Rs 1,18,800. It is important to note that the 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 Yoga Narasimhan Nagar Extension?

The Yoga Narasimhan Nagar Extension falls under the Chennai South Joint I 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 Pallikaranai

The guideline value plays a crucial role in property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two amounts is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yoga Narasimhan Nagar Extension?

The current guideline value of Yoga Narasimhan Nagar Extension is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the guideline values of other streets in Pallikaranai?

Other streets in Pallikaranai have varying guideline values. For example, 200 Feet Road has a guideline value of Rs 3,850 per sq.ft, while Yoga Narasimhan Nagar and Yamuna Street both have a value of Rs 1,320 per sq.ft.

How is stamp duty calculated in Yoga Narasimhan Nagar Extension?

Stamp duty in Yoga Narasimhan Nagar Extension is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 92,400 based on the current guideline value.

Which office handles registrations for Yoga Narasimhan Nagar Extension?

The registrations for Yoga Narasimhan Nagar Extension are handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.