Guideline Value for NARASIMMAN STREET (WARD-21)

Narasimman Street (Ward-21) guideline value

The current guideline value of Narasimman Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - I.

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

The guideline value for Narasimman Street (Ward-21) has undergone several revisions over the years. The 2012 revision recorded a value of Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following that, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision set it at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for Narasimman Street (Ward-21) in the register.

Guideline values in Potheri

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

• Narasimman Nagar (Ward-21): Rs 1,980 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 Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that 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 Street (Ward-21)?

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

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

The guideline value is a critical factor in property transactions in Potheri, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the value of the property being transferred.

Frequently asked questions

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

The current guideline value of Narasimman Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Narasimman Street (Ward-21)?

Narasimman Street (Ward-21) is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the registration office for Narasimman Street (Ward-21)?

The registration office for Narasimman Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 59,400.