Guideline Value for NARASIMHAPURAM & EXTN

Narasimhapuram & Extn guideline value

The current guideline value of Narasimhapuram & Extn is Rs 626 per sq.ft, effective from the 2024 revision. This area is located in Kakkalur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - III.

How the guideline value of Narasimhapuram & Extn has changed

The guideline value for Narasimhapuram & Extn has seen several revisions over the years. The 2012 revision set the value at Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision. Following this, the 2023 revision maintained the value at Rs 626 per sq.ft, and the current 2024 revision also holds the same value, indicating no change from the previous year.

In terms of percentage changes, there was a significant increase of 49% from the 2017 revision to the 2023 revision. However, there was a decrease of 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 626 per sq.ft, which is equal to the current guideline value of Narasimhapuram & Extn.

• Nanthavanam Street: Rs 626 per sq.ft (2024)
• Neelorpavamalar Street: Rs 626 per sq.ft (2024)
• New Maruthi Nagar: Rs 626 per sq.ft (2024)
• Mullai Street: Rs 626 per sq.ft (2024)
• Mps Nagar: Rs 800 per sq.ft (2024)
• M.P. City(22/2.22/3): Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimhapuram & Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value would be Rs 6,26,000. The stamp duty at 7% would amount to Rs 43,820, and the registration fee at 2% would be Rs 12,520. Together, the total cost for these fees would be Rs 56,340. 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 Narasimhapuram & Extn?

The Sub Registrar Office that covers Narasimhapuram & Extn is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. For further details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kakkalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value will dictate the applicable stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these fees can significantly impact the overall cost of purchasing a property.

Frequently asked questions

What is the current guideline value of Narasimhapuram & Extn?

The current guideline value of Narasimhapuram & Extn is Rs 626 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in both 2023 and 2024.

What is the land classification for Narasimhapuram & Extn?

Narasimhapuram & Extn is classified as Residential Class II Type - III.

What are the stamp duty rates for property in Narasimhapuram & Extn?

The stamp duty for property in Narasimhapuram & Extn is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Narasimhapuram & Extn located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.