Guideline Value for NARAYANI NAGAR

Narayani Nagar guideline value

The current guideline value of Narayani Nagar, located in Ponneri_2 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 Nagar has changed

The guideline value for Narayani Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which remained unchanged in the 2023 revision. As of the 2024 revision, the guideline value stands at Rs 700 per sq.ft, reflecting a 49% increase from the 2017 figure.

From 2023 to 2024, there was no change in the guideline value, remaining at Rs 700 per sq.ft. The revisions for the years 2002, 2003, 2007, and 2012 show no figures for this street in the register.

Guideline values in Ponneri_2

In Ponneri_2, there are 75 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 700 to Rs 1,300 per sq.ft, with a median value of Rs 700 per sq.ft. Narayani Nagar's 2024 guideline value is equal to this median.

• Narayani Appartment: Rs 700 per sq.ft (2024)
• Neeli Appadurai Mudali St: Rs 1,200 per sq.ft (2024)
• Nethaji Avenue: Rs 700 per sq.ft (2024)
• Nethaji Nagar: Rs 700 per sq.ft (2024)
• New Kacheri Street: Rs 702 per sq.ft (2024)
• Masque St: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Narayani Nagar

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

Which Sub Registrar Office covers Narayani Nagar?

The Sub Registrar Office that covers Narayani Nagar is 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_2

The guideline value is a critical factor in the registration process when buying or selling property in Ponneri_2. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Narayani Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 469 per sq.ft to Rs 700 per sq.ft in 2024. There was no change from 2023 to 2024.

What are the guideline values of other streets in Ponneri_2?

Other streets in Ponneri_2 have varying guideline values ranging from Rs 700 to Rs 1,300 per sq.ft. The median value for these streets is Rs 700 per sq.ft.

How is stamp duty calculated for properties in Narayani Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Narayani Nagar?

The Sub Registrar Office for Narayani Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more information about your SRO online.