Guideline Value for Narashima Pallavan Street

Narashima Pallavan Street guideline value

The current guideline value of Narashima Pallavan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Narashima Pallavan Street has changed

The guideline value for Narashima Pallavan Street has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Narashima Pallavan Street's 2024 figure above that median.

• Narasimhan Street: Rs 1,650 per sq.ft (2024)
• Narmadha Street: Rs 1,650 per sq.ft (2024)
• Natarajan Street: Rs 3,300 per sq.ft (2024)
• Nakkiran Street: Rs 1,100 per sq.ft (2024)
• Najeeb Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 3rd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Narashima Pallavan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. 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 accurate calculations.

Which Sub Registrar Office covers Narashima Pallavan Street?

The Sub Registrar Office that covers Narashima Pallavan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. 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 helps both parties to understand the fair value of the property, aiding in negotiations and ensuring compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Narashima Pallavan Street?

The current guideline value of Narashima Pallavan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Narashima Pallavan Street?

Narashima Pallavan Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where can I find the Sub Registrar Office for Narashima Pallavan Street?

The Sub Registrar Office for Narashima Pallavan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.