Guideline Value for Narasimman Nagar 4th Street

Narasimman Nagar 4th Street guideline value

The current guideline value of Narasimman Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Narasimman Nagar 4th Street has changed

The guideline value for Narasimman Nagar 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 2,700 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024.

Overall, from 2012 to 2024, the guideline value has increased by 8%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which aligns with the current value for Narasimman Nagar 4th Street.

• Narasimman Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Narasimma Reddiyar nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Narasimman Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Narasimman Kallarai Salai: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Narasimman Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasimman Nagar 4th Street?

The Sub Registrar Office that covers Narasimman Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Narasimman Nagar 4th Street?

The current guideline value of Narasimman Nagar 4th 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 has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the stamp duty for buying property in Narasimman Nagar 4th Street?

The stamp duty for buying property in Narasimman Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Narasimman Nagar 4th Street?

The Sub Registrar Office for Narasimman Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Narasimman Nagar 4th Street?

Narasimman Nagar 4th Street is classified as Residential Class I Type - I according to the local land classification regulations.