Guideline Value for NARAYANASAMY 1ST STREET

Narayanasamy 1st Street guideline value

The current guideline value of Narayanasamy 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Narayanasamy 1st Street has changed

The guideline value for Narayanasamy 1st Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 643 per sq.ft. This increased to Rs 806 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 1,300 per sq.ft in 2007, which was a 61% increase from the previous year. The 2012 revision saw the value at Rs 3,000 per sq.ft, reflecting a significant 131% increase from 2007. However, in 2017, the value decreased to Rs 2,010 per sq.ft, which was a 33% drop.

In the subsequent years, the guideline value rose again, reaching Rs 3,000 per sq.ft in 2023, and then increasing to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 413%. There are no figures available for the years not mentioned in the revisions.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Narayanasamy 1st Street's current guideline value is below this median.

• Narayanasamy Iind Street: Rs 3,300 per sq.ft (2024)
• Narayanasamy Street (V.O.C. Street): Rs 4,400 per sq.ft (2024)
• Nara Lane: Rs 3,300 per sq.ft (2024)
• Nagalingam Street: Rs 3,300 per sq.ft (2024)
• New Colony Main Road & 1 To 4 Cross Street: Rs 4,400 per sq.ft (2024)
• Murahari Road: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayanasamy 1st Street?

The Sub Registrar Office that covers Narayanasamy 1st Street is the Chennai South Joint II 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 Saidapet

The guideline value is a crucial factor when registering property transactions in Saidapet. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value according to the local regulations.

When buying or selling property, it is essential to consider the guideline value as it directly impacts the overall costs involved in the transaction. Both buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Narayanasamy 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 643 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 413% over this period.

What are the other streets with similar guideline values in Saidapet?

Other streets in Saidapet with a guideline value of Rs 3,300 per sq.ft include Narayanasamy Iind Street, Nara Lane, Nagalingam Street, and Murahari Road.

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

The stamp duty for properties in Narayanasamy 1st Street is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total cost will depend on the size of the property and the guideline value.

Where can I find the Sub Registrar Office for Narayanasamy 1st Street?

The Sub Registrar Office for Narayanasamy 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.