Guideline Value for NARASIMMA NAGAR

Narasimma Nagar guideline value

The current guideline value of Narasimma Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is part of Thiruninravur-A village under the Avadi SRO and falls under the Residential Class II Type - III land classification.

How the guideline value of Narasimma Nagar has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure increased to Rs 700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has set the guideline value at Rs 750 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,750 per sq.ft. The median guideline value is Rs 750 per sq.ft, which is equal to the guideline value of Narasimma Nagar.

• Narayanasamy Avenue & Streets: Rs 750 per sq.ft (2024)
• Nehru 1st Cross Street: Rs 440 per sq.ft (2024)
• M.V.Nagar: Rs 750 per sq.ft (2024)
• Nehru Nagar Road: Rs 440 per sq.ft (2024)
• Nehru Nagar & Streets: Rs 440 per sq.ft (2024)
• Muthamizh Nagar: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimma Nagar

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty is charged at 7%, which totals Rs 52,500, and the registration fee is 2%, amounting to Rs 15,000. Together, the total cost for stamp duty and registration fee would be Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Narasimma Nagar?

The Sub Registrar Office that covers Narasimma Nagar is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value is a crucial factor in the registration process of property transactions in Thiruninravur-A. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Narasimma Nagar?

The current guideline value of Narasimma Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and now to Rs 750 per sq.ft in 2024. The overall increase from 2017 to 2024 is 60%.

What is the land classification of Narasimma Nagar?

Narasimma Nagar falls under the Residential Class II Type - III land classification, which is relevant for property transactions in the area.

Where can I find the Sub Registrar Office for Narasimma Nagar?

The Avadi Sub Registrar Office covers Narasimma Nagar, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for properties in Narasimma Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot valued at Rs 750 per sq.ft, the total guideline value is Rs 7,50,000, leading to a stamp duty of Rs 52,500.