Guideline Value

Corporate

Guideline Value for NARASIMHAN NAGAR

₹1950/sq.ft.

The guideline value for Narasimhan Nagar in Ramapuram village (Chennai South Joint Ii SRO, Chennai zone) is Rs 1950 per sq.ft, effective 1 July 2024. It was Rs 1750 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Ramapuram

Village

Chennai South Joint II

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1950 /sq.ft.
From 1-4-2023 ₹1750 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1172 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1750 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹309 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹250 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[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 Narasimhan Nagar

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Narasimhan Nagar guideline value

The current guideline value of Narasimhan Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024. This area is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Narasimhan Nagar has changed

The guideline value for Narasimhan Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 250 per sq.ft. This increased to Rs 309 per sq.ft in 2003, marking a 24% rise. The value saw a significant jump to Rs 900 per sq.ft in 2007, which was a 191% increase. Following this, the value rose to Rs 1,750 per sq.ft in 2012, reflecting a 94% increase. However, it decreased to Rs 1,172 per sq.ft in 2017, showing a decline of 33%. The value then increased to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 680%. There are no figures available for any other revisions for this street in the register.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Narasimhan Nagar's 2024 figure below that median.

Stamp duty and registration fee for property in Narasimhan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, totaling Rs 1,75,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narasimhan Nagar?

The Chennai South Joint II Sub Registrar Office covers Narasimhan Nagar. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ramapuram, as it serves as a benchmark for determining the registration fees and stamp duty applicable during the sale or purchase of property. When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price.

Additionally, the guideline value is updated periodically to reflect changes in the real estate market and local development. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Narasimhan Nagar?

The current guideline value of Narasimhan Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2002 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 680% over the years.

What is the stamp duty rate for properties in Narasimhan Nagar?

The stamp duty rate for properties in Narasimhan Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Narasimhan Nagar located?

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

What are the other streets in Ramapuram with their guideline values?

Other streets in Ramapuram include Narashimha Perumal Koil Street And Cross Street at Rs 2,750 per sq.ft, Natarajan Salai at Rs 1,950 per sq.ft, Natarajan Street at Rs 1,950 per sq.ft, Natchatira Street at Rs 1,950 per sq.ft, Natesa Nagar 1st Lane at Rs 2,750 per sq.ft, and Natesa Nagar 1 to 6 Street at Rs 2,750 per sq.ft.