Guideline Value for NARASIMAVARMAR STREET

Narasimavarmar Street guideline value

The current guideline value of Narasimavarmar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in SingaperumalKoil village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Narasimavarmar Street has changed

The guideline value for Narasimavarmar Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this figure saw a decrease to Rs 670 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Overall, the guideline value has increased by 340% from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. The changes between the revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, and a remarkable 300% increase from 2007 to 2012.

Guideline values in SingaperumalKoil

In SingaperumalKoil, there are 33 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is the same as the current guideline value for Narasimavarmar Street.

• Nathgee Nagar: Rs 1,500 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Netaji Street (Anumandhapuram Salai) - East Side To G.S.T: Rs 1,500 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 800 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimavarmar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Narasimavarmar Street?

The Sub Registrar Office that covers Narasimavarmar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process of property transactions in SingaperumalKoil. It serves as a baseline for calculating the stamp duty and registration fees that are required during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties and fees. 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 Narasimavarmar Street?

The current guideline value of Narasimavarmar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is a total increase of 340%.

What is the land classification for Narasimavarmar Street?

Narasimavarmar Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Narasimavarmar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.