Guideline Value for Narasingapuram Street

Narasingapuram Street guideline value

The current guideline value of Narasingapuram Street is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO. The land classification for this street is Commercial Special Type - III.

How the guideline value of Narasingapuram Street has changed

The guideline value for Narasingapuram Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 4,000 per sq.ft. This figure experienced a significant increase of 242% to reach Rs 13,660 per sq.ft in the 2007 revision. The 2012 revision maintained the value at Rs 15,000 per sq.ft, with no change until the 2023 revision, which again held steady at Rs 15,000 per sq.ft. The 2024 revision marks a rise to Rs 16,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2017 and 2002 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 313%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Narasingapuram Street is above this median, indicating its higher classification within the area.

• Narayana Krishna Rajapuram St: Rs 5,500 per sq.ft (2024)
• Narasimhalala Street: Rs 5,500 per sq.ft (2024)
• Nammalwar Street: Rs 5,500 per sq.ft (2024)
• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Narasingapuram Street

For a 1,000 sq.ft plot at the current rate of Rs 16,500 per sq.ft, the guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, leading to a total of Rs 14,85,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narasingapuram Street?

The Sub Registrar Office covering Narasingapuram Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Triplicane. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is considered alongside the sale price, with the higher of the two being used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narasingapuram Street?

The current guideline value of Narasingapuram Street is Rs 16,500 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 2003 to Rs 16,500 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the other streets in Triplicane and their guideline values?

Other streets in Triplicane include Narayana Krishna Rajapuram St, Narasimhalala Street, Nammalwar Street, Namachivaya Mudali Street, Nallathambi Mudali Street Chennai-5, and Nallathambi Chetty Street Chennai-2, with guideline values ranging from Rs 5,500 to Rs 8,800 per sq.ft in 2024.

What is the stamp duty rate for properties in Narasingapuram Street?

The stamp duty rate for properties in Narasingapuram Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Narasingapuram Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.