Guideline Value for NARASIMMAN NAGAR 4TH STREET

Narasimman Nagar 4th Street guideline value

The current guideline value of Narasimman Nagar 4th 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 4th Street has changed

The guideline value for Narasimman Nagar 4th Street has seen 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 36% increase. The value then surged dramatically to Rs 2,000 per sq.ft in 2012, reflecting a 300% rise from the previous revision.

Following the 2012 revision, the guideline value remained unchanged at Rs 2,000 per sq.ft until 2023. In 2023, the value increased to Rs 2,200 per sq.ft, a 10% rise, and this current figure will be effective from 1 July 2024. Overall, from 2003 to 2024, the guideline value has increased by 496%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value 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 4th Street's value below this median.

• Narasimman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar All Streets: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 2nd Cross Street: 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please 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 Narasimman Nagar 4th Street?

The Sub Registrar Office that covers Narasimman Nagar 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Perambur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers should be aware that the guideline value may influence the overall cost of the transaction.

At the time of registration, the guideline value serves as a benchmark for assessing the value of the property. If the sale price exceeds the guideline value, the duty is charged on the sale price instead.

Frequently asked questions

What is the current guideline value of Narasimman Nagar 4th Street?

The current guideline value of Narasimman Nagar 4th 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 increased from Rs 369 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 496% over this period.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 22,00,000. The stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office is responsible for Narasimman Nagar 4th Street?

The Purasaivakkam Sub Registrar Office is responsible for Narasimman Nagar 4th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

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, with Narasimman Nagar 4th Street's value being below this median.