Guideline Value for NARAYANASWAMY STREET

Narayanaswamy Street guideline value

The current guideline value of Narayanaswamy Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Narayanaswamy Street has changed

The guideline value for Narayanaswamy Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The next revision in 2023 saw an increase to Rs 1,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 13% increase in the guideline value. The register has no figures for Narayanaswamy Street for the years 2002, 2003, and 2007.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is equal to the current value of Narayanaswamy Street.

• Natesan Avenue: Rs 2,200 per sq.ft (2024)
• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natesan Street (Near Omr): Rs 2,200 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 per sq.ft (2024)
• Nazir Kagani Garden: Rs 1,100 per sq.ft (2024)
• Nakinoni Venkateswarlu Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanaswamy Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Narayanaswamy Street?

The Sub Registrar Office that covers Narayanaswamy Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Karapakkam, as it determines the minimum value for registration purposes. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the market conditions set by the state government. This helps maintain transparency in property transactions and ensures that the correct taxes are paid.

Frequently asked questions

What is the current guideline value of Narayanaswamy Street?

The current guideline value of Narayanaswamy Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Narayanaswamy Street?

The stamp duty for properties in Narayanaswamy Street is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,53,000.

Which office handles property registrations in Narayanaswamy Street?

The Neelankarai Sub Registrar Office handles property registrations for Narayanaswamy Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Karapakkam?

The median guideline value in Karapakkam is Rs 1,700 per sq.ft, which is the same as the current guideline value for Narayanaswamy Street.