Guideline Value for NARASIMMAN NAGAR (WARD-21)

Narasimman Nagar (Ward-21) guideline value

The current guideline value for Narasimman Nagar (Ward-21) is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Potheri village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Narasimman Nagar (Ward-21) has changed

The guideline value for Narasimman Nagar has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in 2017. In 2023, the value increased to Rs 1,800 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,980 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The value saw a 10% increase from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this village is Rs 770 per sq.ft, placing Narasimman Nagar's 2024 figure above the median.

• Narasimman Street (Ward-21): Rs 660 per sq.ft (2024)
• Nandhakumar Street, Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Neenjili Amman Koil Street (Ward-21): Rs 660 per sq.ft (2024)
• Nehru Street (Ward-21): Rs 660 per sq.ft (2024)
• Muthulinga Devar Street (Ward-21): Rs 660 per sq.ft (2024)
• Mooppanar Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimman Nagar (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. 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 Narasimman Nagar (Ward-21)?

The Sub Registrar Office that covers Narasimman Nagar (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process when buying or selling property in Potheri. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value or the sale price, whichever is higher, is taken into account for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasimman Nagar (Ward-21)?

The current guideline value of Narasimman Nagar (Ward-21) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Narasimman Nagar?

Narasimman Nagar is classified as Residential Special Type - II, which indicates the type of development allowed in the area.

What is the median guideline value in Potheri?

The median guideline value in Potheri village is Rs 770 per sq.ft, placing Narasimman Nagar's 2024 figure above this median.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.