Guideline Value for NAMASIVAYAPURAM MAIN ROAD

Namasivayapuram Main Road guideline value

The current guideline value of Namasivayapuram Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Namasivayapuram Main Road has changed

The guideline value for Namasivayapuram Main Road has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 563 per sq.ft. This increased to Rs 619 per sq.ft in 2003, followed by a significant rise to Rs 900 per sq.ft in 2007. The 2012 revision brought the value to Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and finally, it is set at Rs 3,300 per sq.ft from the 2024 revision.

From 2017 to 2023, there was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. The 2007 to 2012 revision saw an increase of 233%, and from 2003 to 2007, the value rose by 45%. Overall, from 2002 to 2024, the guideline value has increased by 486%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Namasivayapuram Main Road's 2024 figure below that median.

• Namasivayapuram East: 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 Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Namasivayapuram Main Road?

The Sub Registrar Office that covers Namasivayapuram Main Road 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 information.

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

The guideline value is a critical factor when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and fairly, reflecting the value of the property as per the guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Namasivayapuram Main Road?

The current guideline value of Namasivayapuram Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 563 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 486% over the years.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, with Namasivayapuram Main Road's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Namasivayapuram Main Road?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Namasivayapuram Main Road?

The Kodambakkam Sub Registrar Office handles registrations for Namasivayapuram Main Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.