Guideline Value for NARAYANA BAKTHAR COLONY 4TH STREET

Narayana Bakthar Colony 4th Street guideline value

The current guideline value for Narayana Bakthar Colony 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class V Type - II.

How the guideline value of Narayana Bakthar Colony 4th Street has changed

The guideline value for Narayana Bakthar Colony 4th Street has undergone several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft, which dropped to Rs 1,340 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, showing an increase of 10% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, indicating that Narayana Bakthar Colony 4th Street's 2024 figure is below this median.

• Narayana Bakthar Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Narayana Bakthar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Narayana Bakthar Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Narayana Bakthar Colony 5th Street: Rs 2,200 per sq.ft (2024)
• Narayanan Street: Rs 2,200 per sq.ft (2024)
• New Balaji Appartments: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Bakthar Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Narayana Bakthar Colony 4th Street?

The Sub Registrar Office that covers Narayana Bakthar Colony 4th Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Narayana Bakthar Colony 4th Street?

The current guideline value for Narayana Bakthar Colony 4th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Narayana Bakthar Colony 4th Street?

The Villivakkam Sub Registrar Office handles registrations for Narayana Bakthar Colony 4th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Padi village?

The median guideline value in Padi village is Rs 3,800 per sq.ft, which is higher than the current guideline value for Narayana Bakthar Colony 4th Street.