Guideline Value for Narasimhan Street

Narasimhan Street guideline value

The current guideline value of Narasimhan Street is Rs 1,650 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 - III.

How the guideline value of Narasimhan Street has changed

The guideline value for Narasimhan Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,500 per sq.ft. This value remained the same until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. In 2023, the value increased significantly to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, which matches the current guideline value of Narasimhan Street.

• Narashima Pallavan Street: Rs 2,750 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 Narasimhan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasimhan Street?

The Sub Registrar Office that covers Narasimhan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Chitlapakkam. It is used to determine the stamp duty and registration fees applicable during the property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the necessary fees. This ensures that all transactions are conducted transparently and in accordance with the established property values in the area.

Frequently asked questions

What is the current guideline value of Narasimhan Street?

The current guideline value of Narasimhan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Narasimhan Street?

Narasimhan Street is classified as Residential Class I Type - III, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Narasimhan Street?

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

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be 7% of that amount.