Guideline Value for Narasingapuram 3rd Street

Narasingapuram 3rd Street guideline value

The current guideline value of Narasingapuram 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Narasingapuram 3rd Street has changed

The guideline value for Narasingapuram 3rd Street has seen several revisions over the years. In 2017, the value was Rs 2,680 per sq.ft, which increased to Rs 4,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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 is Rs 4,400 per sq.ft, which is the same as the current value for Narasingapuram 3rd Street.

• Narasingapuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 1st Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 4th Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Narasingapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Narasingapuram 3rd Street?

The Velacheri Sub Registrar Office covers Narasingapuram 3rd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

During the registration, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Narasingapuram 3rd Street?

The current guideline value of Narasingapuram 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty rates for property in Narasingapuram 3rd Street?

The stamp duty rate for property in Narasingapuram 3rd Street is 7% of the guideline value or 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.

How can I calculate the registration fees for my property?

You can calculate the registration fees using the stamp duty and registration fee calculator, which will help you determine the exact fees based on the guideline value.