Guideline Value for NARAYANASWAMY NAICKEN STREET

Narayanaswamy Naicken Street guideline value

The current guideline value of Narayanaswamy Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Narayanaswamy Naicken Street has changed

The guideline value for Narayanaswamy Naicken Street has seen significant changes over the years. The register shows that in 2002, the value was Rs 336 per sq.ft, which rose to Rs 369 per sq.ft in 2003. From 2003 to 2007, the value increased by 36%, reaching Rs 500 per sq.ft. The 2012 revision saw a substantial jump to Rs 2,000 per sq.ft, but this was followed by a decrease of 33% to Rs 1,340 per sq.ft in 2017. The value then increased by 49% to Rs 2,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 2,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 555%. There are no figures available for the years not listed in the register for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Narayanaswamy Naicken Street's 2024 figure below that median.

• Narasimman Nagar All Streets: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanaswamy Naicken Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Narayanaswamy Naicken Street?

The Sub Registrar Office that covers Narayanaswamy Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the property is not undervalued during the transaction.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This makes it essential for both buyers and sellers to 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 Narayanaswamy Naicken Street?

The current guideline value of Narayanaswamy Naicken Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% over this period.

What is the land classification for Narayanaswamy Naicken Street?

Narayanaswamy Naicken Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Narayanaswamy Naicken Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated in Perambur?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. It is advisable to use the available calculator for precise fee calculations.