Guideline Value for NARAYANASAMY 4TH STREET

Narayanasamy 4th Street guideline value

The current guideline value of Narayanasamy 4th Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - I.

How the guideline value of Narayanasamy 4th Street has changed

The guideline value for Narayanasamy 4th Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, which reflects a 9% increase from the 2023 revision of Rs 5,500 per sq.ft. Prior to 2023, the 2012 revision also recorded the value at Rs 5,500 per sq.ft, indicating no change during that period. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. This steady rise highlights the changes in property valuation over the years, culminating in the current rate.

Guideline values in Mylapore

Mylapore village comprises 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Narayanasamy 4th Street's current guideline value below that median.

• Narayanasamy Thottam: Rs 4,900 per sq.ft (2024)
• Narayanasamy Thottam 1st Lane: Rs 4,900 per sq.ft (2024)
• Narayanasamy Thottam 1st Street: Rs 6,000 per sq.ft (2024)
• Narayanasamy Thottam 2nd Lane: Rs 4,900 per sq.ft (2024)
• Narayanasamy Thottam 2nd Street: Rs 6,000 per sq.ft (2024)
• Narayanasamy Thottam 3rd Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Narayanasamy 4th Street?

The Sub Registrar Office that covers Narayanasamy 4th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Narayanasamy 4th Street?

The current guideline value of Narayanasamy 4th Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024, representing a 9% increase. The value has remained the same at Rs 5,500 per sq.ft from 2012 to 2023.

What is the land classification of Narayanasamy 4th Street?

Narayanasamy 4th Street is classified as Residential Class V Type - I, indicating its zoning for residential purposes.

Where can I find the Sub Registrar Office for Narayanasamy 4th Street?

The Sub Registrar Office for Narayanasamy 4th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for property in Narayanasamy 4th Street?

The stamp duty for property in Narayanasamy 4th Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at 7%.