Guideline Value for Narasiman Street (Nagal Kenai)

Narasiman Street (Nagal Kenai) guideline value

The current guideline value of Narasiman Street (Nagal Kenai) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Narasiman Street (Nagal Kenai) has changed

The guideline value for Narasiman Street has undergone several revisions over the years. Starting from Rs 206 per sq.ft in 2002, it increased to Rs 233 per sq.ft in 2003, marking a 13% rise. The value then saw a significant jump to Rs 570 per sq.ft in 2007, which was a 145% increase. In 2017, the value further rose to Rs 1,206 per sq.ft, reflecting a 112% change. The most recent revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is a 64% increase from the 2017 figure. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 861%. This substantial rise indicates the changes in the real estate landscape in the area over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing Narasiman Street's 2024 figure below this median.

• Narasiman Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Narasimman Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nanjilar Street, Anna Nagar: Rs 2,750 per sq.ft (2024)
• Narayanan Street / Lord Srinivasa Colony: Rs 1,870 per sq.ft (2024)
• Nandanar Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Narasiman Street (Nagal Kenai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasiman Street (Nagal Kenai)?

The Sub Registrar Office that covers Narasiman Street (Nagal Kenai) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

When a property is sold, the guideline value helps in assessing the fair value of the property for tax purposes. Buyers and sellers must be aware of the current guideline values to ensure that they are making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Narasiman Street (Nagal Kenai)?

The current guideline value of Narasiman Street (Nagal Kenai) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 206 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 861% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal for 2024 is Rs 2,090 per sq.ft, with Narasiman Street's value being below this median.

What are the stamp duty and registration fees for properties in Narasiman Street (Nagal Kenai)?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Narasiman Street (Nagal Kenai)?

The Pammal Sub Registrar Office handles property registrations for Narasiman Street (Nagal Kenai), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.