Guideline Value

Corporate

Guideline Value for Narasingapuram 5th Cross Street

₹4400/sq.ft.

The guideline value for Narasingapuram 5th Cross Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 Narasingapuram 5th Cross Street

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Narasingapuram 5th Cross Street guideline value

The current guideline value of Narasingapuram 5th Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Narasingapuram 5th Cross Street has changed

Over the years, the guideline value for Narasingapuram 5th Cross Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 4,000 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,680 per sq.ft, marking a significant increase of 49% from the previous 2012 revision, which was Rs 4,000 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

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 value is Rs 4,400 per sq.ft, which is equal to the guideline value of Narasingapuram 5th Cross Street.

Stamp duty and registration fee for property in Narasingapuram 5th Cross 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 to Rs 3,96,000. It is important to note that 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 Narasingapuram 5th Cross Street?

The Sub Registrar Office that covers Narasingapuram 5th Cross Street 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 is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial aspects of the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Narasingapuram 5th Cross Street?

The current guideline value of Narasingapuram 5th Cross 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 changed from Rs 2,680 per sq.ft in 2017 to Rs 4,400 per sq.ft in 2024, with various revisions in between. The most recent increase was 10% from the 2023 revision.

What is the land classification for Narasingapuram 5th Cross Street?

The land classification for Narasingapuram 5th Cross Street is Residential Class II Type - II, indicating its suitability for residential development.

What is the role of the Velacheri SRO?

The Velacheri SRO is responsible for the registration of property transactions in the Velachery area, ensuring compliance with local regulations and collecting stamp duty and registration fees.

How is stamp duty calculated for properties in Narasingapuram 5th Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.