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 part of Vallancheri village and falls under the Chengleput Joint II SRO. The land classification for this locality 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 2024 revision sets the value at Rs 1,980 per sq.ft, a 10% increase from the 2023 revision of Rs 1,800 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,206 per sq.ft, which was a significant increase of 49% from the 2012 revision, where the value was Rs 1,800 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The fluctuations in the values reflect changes in the real estate landscape, with the most notable drop occurring between the 2012 and 2017 revisions, where the value decreased by 33%.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, making Narasimman Nagar's 2024 value of Rs 1,980 per sq.ft notably higher than 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, while the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed 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 Vallancheri

When buying or selling property in Vallancheri, the guideline value is used as a basis for calculating stamp duty and registration fees. This value is crucial for both buyers and sellers, as it determines the financial obligations associated with the transaction.

At the time of registration, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. 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 2023 to Rs 1,980 per sq.ft in 2024, marking a 10% increase. It was Rs 1,206 per sq.ft in 2017 and Rs 1,800 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for Narasimman Nagar (Ward-21)?

Narasimman Nagar (Ward-21) is classified as Residential Special Type - II, which indicates the intended use of the land in this area.

What are the registration fees for property in Narasimman Nagar (Ward-21)?

The registration fees for property transactions are based on the guideline value. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600.

Which office handles registrations for Narasimman Nagar (Ward-21)?

The Chengleput Joint II Sub Registrar Office handles registrations for Narasimman Nagar (Ward-21), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.