Guideline Value for Narasimma Chetty Street

Narasimma Chetty Street guideline value

The current guideline value of Narasimma Chetty Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Narasimma Chetty Street has changed

The guideline value for Narasimma Chetty Street has undergone several revisions over the years. In 2003, the value was Rs 216 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a change of 39%. The value then saw a significant rise to Rs 1,072 per sq.ft in 2017, reflecting a 257% increase. The next revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 raised the value to Rs 1,760 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Narasimma Chetty Street for the years 2002 and 2012. Overall, from 2003 to 2024, the guideline value has increased by 715%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Narasimma Chetty Street's 2024 figure below this median.

• Natarajan Street (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• Nagammal Nagar Main Road: Rs 2,350 per sq.ft (2024)
• Nagammal Nagar 2nd Cross Street: Rs 2,350 per sq.ft (2024)
• Nagammal Nagar 1st Cross Street: Rs 2,350 per sq.ft (2024)
• Nagammal Nagar: Rs 2,350 per sq.ft (2024)
• Muthuthirulandi Nagar 3rd Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimma Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total charges to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasimma Chetty Street?

The Sub Registrar Office that covers Narasimma Chetty Street 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It establishes the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of ownership. This ensures that both the buyer and seller comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Narasimma Chetty Street?

The current guideline value of Narasimma Chetty Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 216 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 715% over that period.

What is the land classification of Narasimma Chetty Street?

Narasimma Chetty Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Narasimma Chetty Street?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registrations for Narasimma Chetty Street?

The Pammal Sub Registrar Office handles property registrations for Narasimma Chetty Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.