Guideline Value for NARAYANA NAGAR

Narayana Nagar guideline value

The current guideline value of Narayana Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Ravatha Nallur village, under the Uthiramerur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Narayana Nagar has changed

The guideline value for Narayana Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 100 per sq.ft, which remains unchanged from the 2023 revision. Prior to that, in 2017, the guideline value was Rs 87 per sq.ft. This indicates a 15% increase from 2017 to 2023, and overall, there has been a 15% increase from 2017 to 2024.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Thus, the changes in guideline value are only reflected from 2017 onwards.

Guideline values in Ravatha Nallur

In addition to Narayana Nagar, there are other streets in Ravatha Nallur under the Uthiramerur SRO. The guideline values for these streets are as follows:

• Winner City: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Narayana Nagar?

The Sub Registrar Office that covers Narayana Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ravatha Nallur. It determines the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements during property transactions. It is essential to check the current rates to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narayana Nagar?

The current guideline value of Narayana Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft from 2023 to 2024, and it increased from Rs 87 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, marking a 15% increase overall from 2017 to 2024.

What is the stamp duty rate for property in Narayana Nagar?

The stamp duty rate for property in Narayana Nagar is 7% of the guideline value or the sale price, whichever is higher.

What are the registration fees for property transactions?

The registration fee for property transactions in Narayana Nagar is 2% of the guideline value or the sale price, whichever is higher.

Where is the Uthiramerur Sub Registrar Office located?

The Uthiramerur Sub Registrar Office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.