Guideline Value

Corporate

Guideline Value for Narasingapuram 6th Cross Street

₹4400/sq.ft.

The guideline value for Narasingapuram 6th 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 6th Cross Street

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Narasingapuram 6th Cross Street guideline value

The current guideline value of Narasingapuram 6th 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 6th Cross Street has changed

The guideline value for Narasingapuram 6th Cross Street has undergone several revisions over the years. The oldest revision recorded is from 2012, which set the value at Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision. The changes from these revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The consistent upward trend in the guideline value reflects the evolving landscape of the area, with the 2024 figure aligning with the median value of Rs 4,400 per sq.ft for Velachery streets.

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 for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Narasingapuram 6th Cross Street. Other streets in Velachery include:

Stamp duty and registration fee for property in Narasingapuram 6th 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, totaling 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasingapuram 6th Cross Street?

The Sub Registrar Office that covers Narasingapuram 6th 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 buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the public registry.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. However, the registration process will charge duty based on the higher of the two values, which can affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Narasingapuram 6th Cross Street?

The current guideline value of Narasingapuram 6th 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 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,680 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for Narasingapuram 6th Cross Street?

Narasingapuram 6th Cross Street is classified as Residential Class II Type - II, indicating the nature of development permissible in the area.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Narasingapuram 6th Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Narasingapuram 6th Cross Street?

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