Guideline Value

Corporate

Guideline Value for Narasingapuram Extn 1st Street

₹4400/sq.ft.

The guideline value for Narasingapuram Extn 1st 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 Extn 1st Street

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Narasingapuram Extn 1st Street guideline value

The current guideline value of Narasingapuram Extn 1st 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 Extn 1st Street has changed

The guideline value for Narasingapuram Extn 1st Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 4,000 per sq.ft. This figure was then reduced to Rs 2,680 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Narasingapuram Extn 1st Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which matches the current guideline value for Narasingapuram Extn 1st Street.

Stamp duty and registration fee for property in Narasingapuram Extn 1st 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, making the total cost for these fees 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 Extn 1st Street?

The Narasingapuram Extn 1st Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role during the registration of 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 from stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable 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, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Narasingapuram Extn 1st Street?

The current guideline value of Narasingapuram Extn 1st 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 several times, starting from Rs 4,000 per sq.ft in 2012, dropping to Rs 2,680 per sq.ft in 2017, and then increasing to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 4,400 per sq.ft.

What is the land classification of Narasingapuram Extn 1st Street?

Narasingapuram Extn 1st Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

How is the stamp duty calculated for properties in this area?

Stamp duty for properties in Narasingapuram Extn 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.

Where can I find the Sub Registrar Office for Narasingapuram Extn 1st Street?

The Velacheri Sub Registrar Office covers Narasingapuram Extn 1st Street and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.