Guideline Value for NARAYANAN (MAISTRY) STREET (ROAD)

Narayanan (Maistry) Street (Road) guideline value

The current guideline value of Narayanan (Maistry) Street (Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the jurisdiction of the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Narayanan (Maistry) Street (Road) has changed

The guideline value for Narayanan (Maistry) Street (Road) has undergone several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft. This decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose significantly to Rs 5,000 per sq.ft in 2023, and currently, it stands at Rs 5,500 per sq.ft as of the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value is Rs 5,500 per sq.ft, which matches the current value of Narayanan (Maistry) Street (Road).

• Narasinga Perumal Koil Street: Rs 6,500 per sq.ft (2024)
• Nancy Street: Rs 5,500 per sq.ft (2024)
• Nammazhvar Chetty Street: Rs 5,500 per sq.ft (2024)
• Nammalwar Lane: Rs 5,500 per sq.ft (2024)
• Nallayya Naidu Street: Rs 5,500 per sq.ft (2024)
• Nakkeeran Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanan (Maistry) Street (Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Narayanan (Maistry) Street (Road)?

The Sub Registrar Office that covers Narayanan (Maistry) Street (Road) is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with local regulations.

When a property is sold, the guideline value serves as a baseline for calculating the applicable fees. It is essential to consult the latest figures to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Narayanan (Maistry) Street (Road)?

The current guideline value of Narayanan (Maistry) Street (Road) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft in 2024.

What are the guideline values of other streets in Purasaivakkam?

Other streets in Purasaivakkam have varying guideline values, with some streets like Narasinga Perumal Koil Street at Rs 6,500 per sq.ft, while several others, including Nancy Street and Nammazhvar Chetty Street, share the same value as Narayanan (Maistry) Street (Road) at Rs 5,500 per sq.ft.

What fees are associated with buying property in Narayanan (Maistry) Street (Road)?

When purchasing property in Narayanan (Maistry) Street (Road), buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Narayanan (Maistry) Street (Road)?

The Sub Registrar Office that covers Narayanan (Maistry) Street (Road) is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.