Guideline Value for Narathapuri Suguna Street

Narathapuri Suguna Street guideline value

The current guideline value of Narathapuri Suguna Street is Rs 2,380 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 II Type - I.

How the guideline value of Narathapuri Suguna Street has changed

The guideline value for Narathapuri Suguna Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 400 per sq.ft. This figure saw a significant increase to Rs 2,200 per sq.ft in 2012, marking a 450% rise. However, between 2012 and 2017, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The value then increased to Rs 2,200 per sq.ft in 2023, followed by the current figure of Rs 2,380 per sq.ft in 2024, reflecting an 8% increase.

From 2017 to 2023, the value rose by 49%, and overall, from 2007 to 2024, the guideline value has increased by 495%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Narathapuri Suguna Street's 2024 figure below that median.

• Narathapuri Srinivasan Street: Rs 2,920 per sq.ft (2024)
• Narathapuri Kamala Street: Rs 2,970 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 Suguna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total to Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narathapuri Suguna Street?

The Sub Registrar Office that covers Narathapuri Suguna 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 stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Narathapuri Suguna Street?

The current guideline value of Narathapuri Suguna Street is Rs 2,380 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 2,380 per sq.ft in 2024, marking an overall increase of 495%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 2,14,200.

Which Sub Registrar Office covers Narathapuri Suguna Street?

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

What is the land classification of Narathapuri Suguna Street?

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