Guideline Value for NARAYANAPURAM ERIKARAI SALAI

Narayanapuram Erikarai Salai guideline value

The current guideline value of Narayanapuram Erikarai Salai is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Narayanapuram Erikarai Salai has changed

The guideline value for Narayanapuram Erikarai Salai has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,474 per sq.ft. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 2,420 per sq.ft.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between revisions include a significant increase of 49% from 2017 to 2023 and a decrease of 33% from 2012 to 2017. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Narayanapuram Erikarai Salai's 2024 figure above the median.

• Narayanapuram: Rs 2,750 per sq.ft (2024)
• Narayanan Street: Rs 1,650 per sq.ft (2024)
• Narayanan Nagar: Rs 1,650 per sq.ft (2024)
• Narasimhan Street: Rs 1,650 per sq.ft (2024)
• Neelavathy Nagar (Neela Nagar): Rs 2,750 per sq.ft (2024)
• Nakeerar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapuram Erikarai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Narayanapuram Erikarai Salai?

The Sub Registrar Office that covers Narayanapuram Erikarai Salai is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narayanapuram Erikarai Salai?

The current guideline value of Narayanapuram Erikarai Salai is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations for Narayanapuram Erikarai Salai?

The Chennai South Joint I Sub Registrar Office handles property registrations for Narayanapuram Erikarai Salai, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, with Narayanapuram Erikarai Salai's 2024 figure being above this median.