Guideline Value for NARAYANASAMY THOTTAM 3RD LANE

Narayanasamy Thottam 3rd Lane guideline value

The current guideline value of Narayanasamy Thottam 3rd Lane is Rs 4,900 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 - II.

How the guideline value of Narayanasamy Thottam 3rd Lane has changed

The guideline value for Narayanasamy Thottam 3rd Lane has seen several revisions over the years. In 2002, the value was Rs 498 per sq.ft, which increased to Rs 554 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,000 per sq.ft in 2007, reflecting an 81% increase. The guideline value continued to climb, reaching Rs 4,500 per sq.ft in 2012, which was a 350% increase from the previous revision.

From 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, showing a decline of 33%. However, the value rebounded to Rs 4,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,900 per sq.ft, representing a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 884%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Narayanasamy Thottam 3rd Lane's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Narayanasamy Thottam 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total fees Rs 4,41,000. 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 Thottam 3rd Lane?

The Sub Registrar Office covering Narayanasamy Thottam 3rd Lane 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 information.

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

The guideline value serves as a benchmark for property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are registered at a fair value.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations during the registration process. Accurate knowledge of the guideline value helps in making informed decisions when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Narayanasamy Thottam 3rd Lane?

The current guideline value of Narayanasamy Thottam 3rd Lane is Rs 4,900 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 498 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 884% over the years.

What are the stamp duty and registration fees for properties in Narayanasamy Thottam 3rd Lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles property registrations for Narayanasamy Thottam 3rd Lane?

The Mylapore Sub Registrar Office handles property registrations for Narayanasamy Thottam 3rd Lane, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in property transactions as it determines the stamp duty and registration fees. It ensures that properties are registered at a value that reflects the prevailing market conditions.