Guideline Value for NARAYANAPURAM MAIN ROAD

Narayanapuram Main Road guideline value

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

How the guideline value of Narayanapuram Main Road has changed

The guideline value for Narayanapuram Main Road has seen significant changes over the years. In 2002, the value was Rs 932 per sq.ft, which increased to Rs 1,024 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 1,300 per sq.ft, reflecting a 27% increase. The 2012 revision saw a substantial rise to Rs 5,300 per sq.ft, an increase of 308%. However, in 2017, the value decreased to Rs 3,551 per sq.ft, a drop of 33%. The most recent revision in 2024 brought the value back up to Rs 5,800 per sq.ft, a notable increase of 63% from 2017. There is no figure available for the 2023 revision for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the guideline value of Narayanapuram Main Road.

• Narayanapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Narayanapuram 1st Street: 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 Main Road

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, bringing the total cost for these fees to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayanapuram Main Road?

The Sub Registrar Office that covers Narayanapuram Main Road 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 crucial role in the registration process when buying or selling property in Puliyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Narayanapuram Main Road?

The current guideline value of Narayanapuram Main Road 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 an overall increase of 522% over this period.

What are the stamp duty and registration fees for properties on Narayanapuram Main Road?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which Sub Registrar Office covers Narayanapuram Main Road?

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

What is the land classification of Narayanapuram Main Road?

Narayanapuram Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.