Guideline Value for NARASIMMA NAGAR

Narasimma Nagar guideline value

The current guideline value of Narasimma Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Thiruninravur-B village under the Avadi SRO, classified as Residential Class II Type - III.

How the guideline value of Narasimma Nagar has changed

The guideline value for Narasimma Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in 2023, marking a significant rise of 49%. The most recent 2024 revision has further increased the value to Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruninravur-B

In Thiruninravur-B, there are 374 streets under the Avadi SRO, with the 2024 guideline values ranging from Rs 330 to Rs 1,760 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the guideline value of Narasimma Nagar.

• Narayanasamy Avenue & Streets: Rs 770 per sq.ft (2024)
• Nehru 1st Cross Street: Rs 440 per sq.ft (2024)
• M.V.Nagar: Rs 770 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 770 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Narasimma Nagar?

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

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

The guideline value plays a crucial role during the registration of property transactions in Thiruninravur-B. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges that must be settled during the transaction process. This ensures transparency and compliance with legal requirements in property dealings.

Frequently asked questions

What is the current guideline value of Narasimma Nagar?

The current guideline value of Narasimma Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 770 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for a property in Narasimma Nagar?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers 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.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, ensuring that the correct stamp duty and registration fees are collected during property transactions.