Guideline Value for NAMASIVAYAPURAM EAST

Namasivayapuram East guideline value

The current guideline value of Namasivayapuram East is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of Namasivayapuram East has changed

The guideline value for Namasivayapuram East has seen several revisions over the years. In 2002, the value was Rs 563 per sq.ft, which increased to Rs 619 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then surged to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, there was a 10% increase. The value then rose by 45% from 2003 to 2007. The jump from 2007 to 2012 was 233%, followed by a decrease of 33% from 2012 to 2017. The value increased by 49% from 2017 to 2023, and the most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 486%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for Namasivayapuram East is below this median.

• Namasivayapuram Main Road: Rs 3,300 per sq.ft (2024)
• Nakkeeran Street: Rs 6,300 per sq.ft (2024)
• Nagarjuna Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Nagarjuna Nagar 1st Street: Rs 7,100 per sq.ft (2024)
• Narasimman Street: Rs 6,300 per sq.ft (2024)
• Muthu Thottam: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Namasivayapuram East

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, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, making the total fees together 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Namasivayapuram East?

The Sub Registrar Office that covers Namasivayapuram East is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Puliyur. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Namasivayapuram East?

The current guideline value of Namasivayapuram East 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 multiple times, starting from Rs 563 per sq.ft in 2002 to the current Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of 486% over the years.

What is the median guideline value in Puliyur?

The median guideline value in Puliyur is Rs 5,800 per sq.ft, with Namasivayapuram East's current value being below this median.

What are the stamp duty and registration fees for properties in Namasivayapuram East?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Namasivayapuram East located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covering Namasivayapuram East.