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 Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

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

The guideline value for Narasimman Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, and then further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007.

Guideline values in Thailavaram

In Thailavaram, 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. The median value is Rs 770 per sq.ft, making the current value of Narasimman Street below that 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 881 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, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, 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, in the Chengalpattu registration zone. You can find your SRO for more details.

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. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Accurate knowledge of these values ensures compliance with local regulations during the buying and selling process.

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 increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

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

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

What are the other streets in Thailavaram with similar guideline values?

Other streets in Thailavaram with similar guideline values include Nandhakumar Street, Neenjili Amman Koil Street, Nehru Street, and Muthulinga Devar Street, all valued at Rs 660 per sq.ft in 2024.

Where is the Sub Registrar Office for Narasimman Street (Ward-21) located?

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