Guideline Value

Corporate

Guideline Value for Narasingapuram 6th Street

₹4400/sq.ft.

The guideline value for Narasingapuram 6th 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 Street

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Narasingapuram 6th Street guideline value

The current guideline value of Narasingapuram 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - II.

How the guideline value of Narasingapuram 6th Street has changed

The guideline value for Narasingapuram 6th Street has undergone several revisions over the years. The earliest available revision is from 2012, where the value was 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 finally reached Rs 4,400 per sq.ft in the latest 2024 revision, marking a 10% increase from the previous year.

Between the 2012 and 2017 revisions, there was a significant decrease of 33%. However, from 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

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 among these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Narasingapuram 6th Street.

Stamp duty and registration fee for property in Narasingapuram 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total 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 detailed calculations.

Which Sub Registrar Office covers Narasingapuram 6th Street?

The Sub Registrar Office that covers Narasingapuram 6th 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 critical factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps to establish a fair price for the transaction. It is essential for buyers and sellers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Narasingapuram 6th 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 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Narasingapuram 6th Street?

Narasingapuram 6th Street is classified as Residential Class II Type - II.

Where can I find the Velacheri Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value. For example, on a 1,000 sq.ft plot at Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000.