Guideline Value

Corporate

Guideline Value for Narasingapuram 7th Cross Street

₹4400/sq.ft.

The guideline value for Narasingapuram 7th 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 7th Cross Street

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Narasingapuram 7th Cross Street guideline value

The current guideline value of Narasingapuram 7th 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 7th Cross Street has changed

Over the years, the guideline value of Narasingapuram 7th Cross Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which then changed to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 4,000 per sq.ft, and the most recent 2024 revision raised it further to 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, and 2007 for Narasingapuram 7th Cross Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are a total of 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 2024 figure for Narasingapuram 7th Cross Street.

Stamp duty and registration fee for property in Narasingapuram 7th 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 would be 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 the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasingapuram 7th Cross Street?

The Sub Registrar Office covering Narasingapuram 7th 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 details.

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

When buying or selling property in Velachery, the guideline value serves as a reference point for determining the minimum value of the property for registration purposes. It is essential for calculating the stamp duty and registration fees, which are based on this value.

The guideline value is used to ensure that property transactions are registered at a fair value, preventing undervaluation and ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline values to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Narasingapuram 7th Cross Street?

The current guideline value of Narasingapuram 7th 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, a 10% increase. It was Rs 2,680 per sq.ft in 2017, which marked a 49% increase from the previous revision.

What is the land classification for Narasingapuram 7th Cross Street?

Narasingapuram 7th Cross Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What is the registration office for Narasingapuram 7th Cross Street?

The registration office for Narasingapuram 7th 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 7th Cross Street?

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