Guideline Value for NARMATHA STREET

Narmatha Street guideline value

The current guideline value of Narmatha Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Narmatha Street has changed

The guideline value for Narmatha Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,300 per sq.ft. This figure was revised in 2017 to Rs 1,541 per sq.ft, which marked a decrease of 33%. In 2023, the value increased significantly to Rs 2,300 per sq.ft, and then further rose to Rs 2,530 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for Narmatha Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Manapakkam

In Manapakkam, there are a total of 368 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which is equal to the current guideline value of Narmatha Street.

• Narkudi Eswaran Koil Street: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Murugathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Narmatha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, making the total amount payable Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Narmatha Street?

Narmatha Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Narmatha Street?

The current guideline value of Narmatha Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,530 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,541 per sq.ft in 2017, which was a decrease from Rs 2,300 per sq.ft in 2012.

Where can I find the registration office for Narmatha Street?

The registration office for Narmatha Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the stamp duty for property in Narmatha Street?

The stamp duty for property in Narmatha Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 1,77,100.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for property registration, ensuring that the appropriate stamp duty and registration fees are collected. It is compared against the sale price to determine the higher value for duty calculation.