Guideline Value for Narathapuri Srinivasan Street

Narathapuri Srinivasan Street guideline value

The current guideline value of Narathapuri Srinivasan Street is Rs 2,920 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Narathapuri Srinivasan Street has changed

Over the years, the guideline value of Narathapuri Srinivasan Street has seen significant changes. In 2007, the guideline value was Rs 400 per sq.ft, which rose to Rs 2,700 per sq.ft in 2012, marking a substantial increase of 575%. However, this value decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%. The guideline value then increased to Rs 2,700 per sq.ft in 2023, and most recently, it has risen to Rs 2,920 per sq.ft in 2024, reflecting an 8% increase.

It is important to note that the register has no figure for Narathapuri Srinivasan Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 630%.

Guideline values in Hastinapuram

In Hastinapuram village, 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 guideline value for these streets is Rs 2,970 per sq.ft, placing Narathapuri Srinivasan Street's 2024 figure below this median.

• Narathapuri Kamala Street: Rs 2,970 per sq.ft (2024)
• Narathapuri Suguna Street: Rs 2,380 per sq.ft (2024)
• Narathapuri Anumarkoil 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 Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,920 per sq.ft, the total guideline value would be Rs 29,20,000. The stamp duty at 7% would amount to Rs 2,04,400, and the registration fee at 2% would be Rs 58,400, bringing the total cost to Rs 2,62,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narathapuri Srinivasan Street?

The Sub Registrar Office that covers Narathapuri Srinivasan 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 a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value helps in assessing the fair value of the property, ensuring that both parties are aware of the financial implications involved in the transaction. It is essential for buyers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narathapuri Srinivasan Street?

The current guideline value of Narathapuri Srinivasan Street is Rs 2,920 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 400 per sq.ft in 2007 to Rs 2,920 per sq.ft in 2024, reflecting an overall increase of 630% over this period.

What are the other guideline values in Hastinapuram?

In Hastinapuram, the guideline values range from Rs 1,650 to Rs 4,400 per sq.ft, with Narathapuri Srinivasan Street's value being below the median of Rs 2,970 per sq.ft.

What are the stamp duty and registration fees for a property in Narathapuri Srinivasan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,20,000, with stamp duty at 7% amounting to Rs 2,04,400 and a registration fee at 2% amounting to Rs 58,400, totaling Rs 2,62,800.

Which Sub Registrar Office covers Narathapuri Srinivasan Street?

The Pallavaram Sub Registrar Office covers Narathapuri Srinivasan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.