Guideline Value for Narasimman Nagar 3rd Street

Narasimman Nagar 3rd Street guideline value

The current guideline value of Narasimman Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Narasimman Nagar 3rd Street has changed

The guideline value for Narasimman Nagar 3rd Street has seen revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. Prior to this, the 2012 revision also listed the value at Rs 2,500 per sq.ft, indicating no change from 2012 to 2023.

It is important to note that there are no figures available for the revisions in 2017, 2007, 2003, and 2002 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which matches the guideline value of Narasimman Nagar 3rd Street.

• Narasimman Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Narasimman Kallarai Salai: Rs 2,700 per sq.ft (2024)
• Narasimma Reddiyar nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimman Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. 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 more details on calculating these fees.

Which Sub Registrar Office covers Narasimman Nagar 3rd Street?

The Sub Registrar Office covering Narasimman Nagar 3rd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with state regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narasimman Nagar 3rd Street?

The current guideline value of Narasimman Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. From 2012 to 2024, the overall increase is also 8%.

What is the land classification for Narasimman Nagar 3rd Street?

Narasimman Nagar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Narasimman Nagar 3rd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

Which office handles registrations for Narasimman Nagar 3rd Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for Narasimman Nagar 3rd Street.