Guideline Value for NARASINGA PURAM COLONY (CHEN)

Narasinga Puram Colony (Chen) guideline value

The current guideline value of Narasinga Puram Colony (Chen) is Rs 1,100 per sq.ft, effective from 1 July 2024. This colony is located in Sengundram - 1 village, under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Narasinga Puram Colony (Chen) has changed

The guideline value has undergone several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Sengundram - 1

Sengundram - 1 has a total of 126 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Narasinga Puram Colony (Chen) above this median.

• Netharaji Street (Chen): Rs 660 per sq.ft (2024)
• Mullai Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street (Chen): Rs 660 per sq.ft (2024)
• Meenatchipuram (Chen): Rs 880 per sq.ft (2024)
• Maruthi Nagar (Chen): Rs 880 per sq.ft (2024)
• Mariyamman Koil Street (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Narasinga Puram Colony (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narasinga Puram Colony (Chen)?

The Chengleput Joint II Sub Registrar Office covers Narasinga Puram Colony (Chen). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO here.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasinga Puram Colony (Chen)?

The current guideline value of Narasinga Puram Colony (Chen) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as of 2024.

What is the land classification for Narasinga Puram Colony (Chen)?

The land classification for Narasinga Puram Colony (Chen) is Residential Special Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Narasinga Puram Colony (Chen)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.