Guideline Value for YOGA NARASIMHAN NAGAR

Yoga Narasimhan Nagar guideline value

The current guideline value of Yoga Narasimhan Nagar 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 street is Residential Class IV Type - II.

How the guideline value of Yoga Narasimhan Nagar has changed

The guideline value for Yoga Narasimhan Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. In 2017, this figure decreased to Rs 804 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

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

• Yoga Narasimhan Nagar Extension: 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

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 at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Yoga Narasimhan Nagar?

The Sub Registrar Office that covers Yoga Narasimhan Nagar is 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. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering a property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may influence the overall costs associated with property transactions.

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 area.

Frequently asked questions

What is the current guideline value of Yoga Narasimhan Nagar?

The current guideline value of Yoga Narasimhan Nagar 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Yoga Narasimhan Nagar?

The land classification for Yoga Narasimhan Nagar is Residential Class IV Type - II.

Where is the Sub Registrar Office for Yoga Narasimhan Nagar located?

The Sub Registrar Office for Yoga Narasimhan Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Yoga Narasimhan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.