Guideline Value for NARASIMMALU STREET

Narasimmalu Street guideline value

The current guideline value of Narasimmalu Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - II.

How the guideline value of Narasimmalu Street has changed

The guideline value for Narasimmalu Street has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 5,500 per sq.ft in 2023, and subsequently, it increased to Rs 6,000 per sq.ft in 2024, which is a 9% rise.

There are no figures available for Narasimmalu Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 445%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which matches the current guideline value of Narasimmalu Street.

• Natarajapuram Street: Rs 4,400 per sq.ft (2024)
• Naganatha Nagar: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 4,400 per sq.ft (2024)
• Muthumariamman Koil Street (Sandrorpalayam): Rs 5,000 per sq.ft (2024)
• Muthatchiamman Koil Street: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimmalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, resulting in a total of Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasimmalu Street?

The Sub Registrar Office that covers Narasimmalu Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Arumbakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the sale price alone.

When buying or selling property, the guideline value helps determine the legal and financial obligations involved in the transaction, making it essential for both buyers and sellers to be aware of the current rates.

Frequently asked questions

What is the current guideline value of Narasimmalu Street?

The current guideline value of Narasimmalu Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 445% over the years.

What are the other guideline values in Arumbakkam?

Other streets in Arumbakkam have varying guideline values, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with the median value being Rs 6,000 per sq.ft.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% on the guideline value or sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Kodambakkam Sub Registrar Office located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.