Guideline Value for Narasaier Street

Narasaier Street guideline value

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

How the guideline value of Narasaier Street has changed

The guideline value for Narasaier Street has seen several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in both 2012 and 2023. The 2024 revision marks a further increase to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

Notably, there are no figures available for Narasaier Street in the revisions from 2002, 2003, and 2017. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making Narasaier Street's 2024 figure above that median.

• Narayanappan Thottam 10th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 1st Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 2nd Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 3rd Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narasaier Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Narasaier Street?

Narasaier Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. This value is used to determine 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 higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasaier Street?

The current guideline value of Narasaier 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 changed from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 175%.

What are the stamp duty and registration fees for properties on Narasaier Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Narasaier Street?

The Royapuram Sub Registrar Office handles the registration for Narasaier Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Narasaier Street's current value being above this median.