Guideline Value for NARAYANI APPARTMENT

Narayani Appartment guideline value

The current guideline value of Narayani Appartment in Ponneri village, under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Narayani Appartment has changed

The guideline value for Narayani Appartment has undergone several revisions over the years. Starting from the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This figure saw a decrease to Rs 469 per sq.ft in the 2017 revision, which was a drop of 6%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 700 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

In summary, the overall change from the 2012 revision to the 2024 revision is an increase of 40%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 201 to Rs 1,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Narayani Appartment.

• Narayani Nagar: Rs 700 per sq.ft (2024)
• Neeli Appadurai Mudalai St: Rs 900 per sq.ft (2024)
• Neeli Appadurai Mudali St: Rs 1,200 per sq.ft (2024)
• Nakkeeran Street: Rs 700 per sq.ft (2024)
• Nadar Rice Mill Road: Rs 700 per sq.ft (2024)
• New Sun City: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Narayani Appartment

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for stamp duty and registration would be Rs 63,000. 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 more details.

Which Sub Registrar Office covers Narayani Appartment?

The Narayani Appartment falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ponneri. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded at a legally recognized value.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value can help in budgeting for the additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Narayani Appartment?

The current guideline value of Narayani Appartment is Rs 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 500 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification for Narayani Appartment?

The land classification for Narayani Appartment is Residential Class II Type - I.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the stamp duty rate for properties in Narayani Appartment?

The stamp duty rate for properties in Narayani Appartment is 7% of the guideline value or the sale price, whichever is higher.