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 Vallancheri 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 undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased to Rs 600 per sq.ft in the 2023 revision and further rose to the current value of Rs 660 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, and by 10% from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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, with a median value of Rs 825 per sq.ft. The guideline value for Narasimman Street (Ward-21) is 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, while the registration fee at 2% would be Rs 13,200, leading to a total of Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, 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. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property is sold, the guideline value helps determine the official value for registration purposes, which is essential for legal documentation. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the associated costs.

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 are the other streets in Vallancheri with similar guideline values?

Other streets in Vallancheri 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.

What is the registration fee for property in Narasimman Street (Ward-21)?

The registration fee for property in Narasimman Street is calculated based on the guideline value, which is currently Rs 660 per sq.ft. For example, a 1,000 sq.ft property would incur a registration fee of Rs 13,200.

Where can I find the Sub Registrar Office for Narasimman Street (Ward-21)?

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