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Guideline Value

Corporate

Guideline Value for Market Street (G.N.T. Road)

₹3300/sq.ft.

The guideline value for Market Street (g.n.t. Road) in Naravarikuppam village (Redhills SRO, Chennai zone) is Rs 3300 per sq.ft, effective 1 July 2024. It was Rs 3000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Naravarikuppam

Village

Redhills

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3300 /sq.ft.
From 1-4-2023 ₹3000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2010 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹700 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹515 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹4333 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.
044-29570109
[email protected]

DRO (District Registrar Office)

District Registrar Office Jvc Complex Near Icmr Vedingallur Thiruvallur -631203
044-27661230
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Market Street (g.n.t. Road)

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Market Street (G.N.T. Road) guideline value

The current guideline value of Market Street (G.N.T. Road) in Naravarikuppam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Redhills SRO and is classified as Commercial Class I Type - I.

How the guideline value of Market Street (G.N.T. Road) has changed

The guideline value of Market Street (G.N.T. Road) has undergone several revisions since 2002. The earliest recorded figure was Rs 4,333 per sq.ft in 2002, which then decreased to Rs 515 per sq.ft in 2003. Following this, the value increased to Rs 700 per sq.ft in 2007, and further rose to Rs 3,000 per sq.ft in 2012. The value then decreased to Rs 2,010 per sq.ft in 2017, before increasing to Rs 3,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft.

Notable changes between the revisions include a significant increase of 329% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall change from 2002 to 2024 reflects a decrease of 24%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. Market Street (G.N.T. Road) has a guideline value above this median.

Stamp duty and registration fee for property in Market Street (G.N.T. Road)

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 fees together 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Market Street (G.N.T. Road)?

The Sub Registrar Office that covers Market Street (G.N.T. Road) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

When buying or selling property in Naravarikuppam, the guideline value plays a crucial role during the registration process. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

The guideline value ensures that the transaction is recorded at a fair price, based on the prevailing rates in the area. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Market Street (G.N.T. Road)?

The current guideline value of Market Street (G.N.T. Road) 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 significantly from Rs 4,333 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall decrease of 24% over this period.

What are the stamp duty and registration fees for property in Market Street (G.N.T. Road)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Market Street (G.N.T. Road)?

The Redhills Sub Registrar Office covers Market Street (G.N.T. Road), located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Market Street (G.N.T. Road)?

Market Street (G.N.T. Road) is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.