Guideline Value for NARAYANA NAGAR

Narayana Nagar guideline value

The current guideline value of Narayana Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Kolapakkam village and is classified as Commercial Class I Type - II. The relevant Sub Registrar Office for this location is the Gooduvancheri SRO.

How the guideline value of Narayana Nagar has changed

Over the years, the guideline value of Narayana Nagar has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 360 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 178%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2023 restored the value back to Rs 1,000 per sq.ft, resulting in an overall increase of 49% from the 2017 figure.

From the 2007 revision to the 2023 revision, Narayana Nagar has experienced a substantial overall increase of 178%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

Currently, there are no specific village figures provided for Kolapakkam. Narayana Nagar is one of the areas under the Gooduvancheri SRO. Unfortunately, there are no other streets in Kolapakkam listed with guideline values.

Stamp duty and registration fee for property in Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty is charged at 7%, which totals Rs 70,000, and the registration fee is charged at 2%, amounting to Rs 20,000. Therefore, the total cost for stamp duty and registration fee together is Rs 90,000. It is essential to note that 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 Narayana Nagar?

The Sub Registrar Office covering Narayana Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolapakkam, as it determines the minimum value at which a property can be registered. Buyers need to be aware that the stamp duty and registration fees are based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value helps ensure that the property is accurately assessed for tax purposes. It is essential for both buyers and sellers to understand these values to avoid discrepancies during transactions.

Frequently asked questions

What is the current guideline value of Narayana Nagar?

The current guideline value of Narayana Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 360 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the registration office for Narayana Nagar?

The registration office for Narayana Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated in Narayana Nagar?

Stamp duty in Narayana Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.

Are there other streets in Kolapakkam with guideline values?

Currently, there are no other streets in Kolapakkam listed with specific guideline values. Narayana Nagar is the only area mentioned under the Gooduvancheri SRO.