Guideline Value for Narathapuri Kamala Street

Narathapuri Kamala Street guideline value

The current guideline value of Narathapuri Kamala Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Narathapuri Kamala Street has changed

The guideline value for Narathapuri Kamala Street has undergone several revisions over the years. The earliest recorded figure is from 2007, at Rs 801 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 237%. However, the value then decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. From 2017 to 2023, the value surged to Rs 2,700 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Narathapuri Kamala Street in the revisions of 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 271%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of Narathapuri Kamala Street.

• Narathapuri Anumarkoil Street: Rs 2,380 per sq.ft (2024)
• Narathapuri Srinivasan Street: Rs 2,920 per sq.ft (2024)
• Narathapuri Suguna Street: Rs 2,380 per sq.ft (2024)
• Nallappa Street: Rs 2,970 per sq.ft (2024)
• Nehru Nagar: Rs 4,400 per sq.ft (2024)
• Muvendar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Narathapuri Kamala Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narathapuri Kamala Street?

The Sub Registrar Office covering Narathapuri Kamala Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling properties in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. It is crucial for buyers to consider the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Narathapuri Kamala Street?

The current guideline value of Narathapuri Kamala Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 801 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 271% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a property valued at Rs 29,70,000, the total fees would amount to Rs 2,67,300.

Which office handles property registrations for Narathapuri Kamala Street?

The Pallavaram Sub Registrar Office handles property registrations for Narathapuri Kamala Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Narathapuri Kamala Street?

Narathapuri Kamala Street is classified as Residential Class I Type - I, indicating its suitability for residential development.