Guideline Value for NARAYANAPURAM 1ST STREET

Narayanapuram 1st Street guideline value

The current guideline value of Narayanapuram 1st Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the jurisdiction of the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Narayanapuram 1st Street has changed

Over the years, the guideline value of Narayanapuram 1st Street has seen significant changes. The register shows that in 2002, the guideline value was Rs 932 per sq.ft, which increased to Rs 1,024 per sq.ft in 2003, marking a 10% rise. Following this, the value continued to rise to Rs 1,300 per sq.ft in 2007, reflecting a 27% increase. The next revision in 2012 saw a notable jump to Rs 5,300 per sq.ft, an increase of 308%. However, the value dropped to Rs 3,551 per sq.ft in 2017, which was a decrease of 33%. In 2023, the guideline value rose again to Rs 5,300 per sq.ft, and the most recent revision in 2024 set it at Rs 5,800 per sq.ft, showing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 522%. There are no figures available for the revisions in years other than those listed.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is equal to the current figure for Narayanapuram 1st Street.

• Narayanapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Narayanapuram Main Road: Rs 5,800 per sq.ft (2024)
• Narayana Street: Rs 4,600 per sq.ft (2024)
• Narasimman Street: Rs 6,300 per sq.ft (2024)
• Namasivayapuram Main Road: Rs 3,300 per sq.ft (2024)
• Namasivayapuram East: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000. Together, the total cost for stamp duty and registration would be Rs 5,22,000. It is important to note that the 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 Narayanapuram 1st Street?

The Sub Registrar Office that covers Narayanapuram 1st 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 information.

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

The guideline value plays a critical role when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must consider this value to ensure compliance with local regulations during the registration process.

Additionally, the guideline value impacts the amount of stamp duty and registration fees payable. It is essential for both buyers and sellers to be aware of these values to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Narayanapuram 1st Street?

The current guideline value of Narayanapuram 1st Street is Rs 5,800 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 932 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the land classification for Narayanapuram 1st Street?

Narayanapuram 1st Street is classified as Residential Class I Type - I.

Where is the Kodambakkam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Narayanapuram 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000.