Guideline Value

Corporate

Guideline Value for Narasimman Nagar

₹3850/sq.ft.

The guideline value for Narasimman Nagar in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹287 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Narasimman Nagar

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Narasimman Nagar guideline value

The current guideline value of Narasimman Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Narasimman Nagar has changed

The guideline value for Narasimman Nagar has seen several revisions over the years. Starting from the 2002 revision, where the value was Rs 287 per sq.ft, it increased significantly to Rs 1,500 per sq.ft in 2007, marking a change of +423%. The 2012 revision saw a decrease to Rs 3,500 per sq.ft, which was a -33% change from the previous figure. In 2017, the value rose to Rs 2,345 per sq.ft, reflecting a +64% increase. The latest revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is an increase of +64% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2003 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1241%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, making the 2024 figure for Narasimman Nagar below the median.

Stamp duty and registration fee for property in Narasimman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narasimman Nagar?

The Sub Registrar Office that covers Narasimman Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that the guideline value is often used to determine the minimum sale price for property registration.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Narasimman Nagar?

The current guideline value of Narasimman Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 287 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of +1241%.

What are the stamp duty rates for property in Narasimman Nagar?

The stamp duty for property in Narasimman Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

Are there other streets in Velachery with different guideline values?

Yes, there are other streets in Velachery with different guideline values. For example, Narasingapuram 1st Street, 2nd Street, 3rd Street, 4th Cross Street, 4th Street, and 5th Cross Street all have a guideline value of Rs 4,400 per sq.ft in 2024.