Guideline Value for NARASIMMAN NAGAR (WARD-21)

Narasimman Nagar (Ward-21) guideline value

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

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

The guideline value for Narasimman Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,206 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,800 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision shows a 10% increase over this period. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram village, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Narasimman Nagar is above this 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 881 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 amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that 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 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 information.

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

The guideline value plays a crucial role in property transactions in Thailavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is considered to set the official value of the property. This value is essential for calculating the fees and taxes owed to the government, ensuring that all transactions are conducted fairly and transparently.

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 (Ward-21)?

The land classification for Narasimman Nagar (Ward-21) is Residential Special Type - II.

What are the stamp duty and registration fees for properties in Narasimman Nagar?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Narasimman Nagar located?

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