Guideline Value for NARASIMMAN NAGAR 3RD STREET

Narasimman Nagar 3rd Street guideline value

The current guideline value of Narasimman Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Narasimman Nagar 3rd Street has changed

The guideline value for Narasimman Nagar 3rd Street has undergone several revisions over the years. In 2003, the value was Rs 369 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a significant rise of 36%. The value then jumped to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. The value remained unchanged at Rs 2,000 per sq.ft until 2023, when it was revised to Rs 2,200 per sq.ft, a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2017 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, there are a total of 1,114 streets under the Purasaivakkam SRO, with 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Narasimman Nagar 3rd Street's 2024 figure below this median.

• Narasimman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar All Streets: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimman Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narasimman Nagar 3rd Street?

The Sub Registrar Office that covers Narasimman Nagar 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Narasimman Nagar 3rd Street?

The current guideline value of Narasimman Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 496% over the years.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, which is higher than the current guideline value of Narasimman Nagar 3rd Street.

What are the stamp duty and registration fees for properties in Narasimman Nagar 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, leading to a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Narasimman Nagar 3rd Street?

The Purasaivakkam Sub Registrar Office handles registrations for Narasimman Nagar 3rd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.