Guideline Value for NARAYANA STREET

Narayana Street guideline value

The current guideline value of Narayana Street in Puliyur village, under the Kodambakkam SRO, is Rs 4,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Narayana Street has changed

The guideline value for Narayana Street has seen significant changes over the years. In the 2002 revision, the value was Rs 604 per sq.ft, which increased to Rs 664 per sq.ft in 2003, marking a 10% rise. Following this, the value surged to Rs 1,300 per sq.ft in 2007, reflecting a substantial 96% increase. The 2012 revision maintained the value at Rs 4,300 per sq.ft, and there was no change recorded up until the 2023 revision, which also retained this figure. In the latest 2024 revision, the guideline value rose to Rs 4,600 per sq.ft, indicating a 7% increase from the previous year.

Notably, the register has no figures for Narayana Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 662%, showcasing the significant changes over the years.

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, with a median value of Rs 5,800 per sq.ft. The guideline value of Narayana Street is below this median.

• Narayanapuram Main Road: Rs 5,800 per sq.ft (2024)
• Narayanapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Narayanapuram 1st Street: Rs 5,800 per sq.ft (2024)
• Narasimman Street: Rs 6,300 per sq.ft (2024)
• Neelakandan Street: Rs 5,800 per sq.ft (2024)
• Namasivayapuram Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, bringing the total cost to Rs 4,14,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayana Street?

The Sub Registrar Office that covers Narayana 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 when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is conducted at a fair valuation as per the government standards. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Narayana Street?

The current guideline value of Narayana Street is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 604 per sq.ft in 2002 to Rs 4,600 per sq.ft in 2024, marking an overall increase of 662% over the years.

What are the guideline values of other streets in Puliyur?

Other streets in Puliyur have guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft, with the median value being Rs 5,800 per sq.ft.

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

For a property valued at Rs 46,00,000, the stamp duty would be Rs 3,22,000, and the registration fee would be Rs 92,000, totaling Rs 4,14,000.

Which office handles registrations for Narayana Street?

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