Guideline Value for NARASIMMAN STREET

Narasimman Street guideline value

The current guideline value of Narasimman Street in Puliyur village, under the Kodambakkam SRO, is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Narasimman Street has changed

The guideline value for Narasimman Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,650 per sq.ft. This figure saw a significant increase in the 2012 revision, where it remained at Rs 5,800 per sq.ft. The next revision in 2023 also recorded the same value of Rs 5,800 per sq.ft. However, the 2024 revision marked a rise to Rs 6,300 per sq.ft, reflecting a change of +9% from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been an increase of +282%. The register does not have figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, making Narasimman Street's 2024 figure above that median.

• Narayanapuram 1st Street: Rs 5,800 per sq.ft (2024)
• Narayanapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Narayanapuram Main Road: Rs 5,800 per sq.ft (2024)
• Narayana Street: Rs 4,600 per sq.ft (2024)
• Namasivayapuram Main Road: Rs 3,300 per sq.ft (2024)
• Namasivayapuram East: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, leading to a total of Rs 5,67,000. It is important to 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 Street?

The Sub Registrar Office that covers Narasimman Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Puliyur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the legal framework for the transaction. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to understand the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of Narasimman Street?

The current guideline value of Narasimman Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,650 per sq.ft to Rs 6,300 per sq.ft in 2024, marking an overall increase of +282%.

Are there any years without a guideline value for Narasimman Street?

Yes, the register does not have figures for Narasimman Street for the years 2002, 2003, and 2017.

What are the stamp duty and registration fees for property in Narasimman Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 63,00,000, leading to a stamp duty of Rs 4,41,000 and a registration fee of Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office for Narasimman Street located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.