Guideline Value for Narasimha Desai Dasari Lane

Narasimha Desai Dasari Lane guideline value

The current guideline value of Narasimha Desai Dasari Lane is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class II Type - I.

How the guideline value of Narasimha Desai Dasari Lane has changed

The guideline value for Narasimha Desai Dasari Lane has seen several changes over the years. In 2003, the value was Rs 817 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value surged significantly to Rs 3,500 per sq.ft in 2012, marking a 250% increase. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it has been set at Rs 3,800 per sq.ft as of the 2024 revision, reflecting a 9% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 365%. The significant changes highlight the fluctuations in property values in this area over the years, influenced by various factors affecting the real estate market.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO that carry a 2024 guideline value, which ranges from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Narasimha Desai Dasari Lane is below this median.

• Nanniyan Street: Rs 4,400 per sq.ft (2024)
• Narayana Chetty Street: Rs 4,400 per sq.ft (2024)
• Narayana Mudali Street: Rs 13,000 per sq.ft (2024)
• Narayanan 1st Street: Rs 4,400 per sq.ft (2024)
• Narayanan 2nd Street: Rs 4,400 per sq.ft (2024)
• Narayanan Aiyer Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimha Desai Dasari Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Narasimha Desai Dasari Lane?

The Sub Registrar Office that covers Narasimha Desai Dasari Lane is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Narasimha Desai Dasari Lane?

The current guideline value of Narasimha Desai Dasari Lane is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 817 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 365% over this period.

What are the stamp duty and registration fees for properties on this lane?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office handles transactions for this area?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, handles transactions for Narasimha Desai Dasari Lane.

What is the median guideline value in Muthiyalpet?

The median guideline value for streets in Muthiyalpet is Rs 4,400 per sq.ft, while Narasimha Desai Dasari Lane's value is below this median at Rs 3,800 per sq.ft.