Guideline Value for Narayan Naicken 1st street

Narayan Naicken 1st street guideline value

The current guideline value of Narayan Naicken 1st street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Narayan Naicken 1st street has changed

The guideline value for Narayan Naicken 1st street has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft, which increased significantly to Rs 5,800 per sq.ft in 2012, marking a rise of 383%. However, the value then decreased to Rs 3,886 per sq.ft in 2017, a drop of 33%. The value surged again to Rs 5,800 per sq.ft in 2023, and most recently, it has risen to Rs 6,300 per sq.ft in 2024, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 425%. It is important to note that there are no figures available for this street from the revisions in 2002 and 2003.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, placing Narayan Naicken 1st street's 2024 figure below this median.

• Narayan NaickenStreet: Rs 10,100 per sq.ft (2024)
• NarayasamyDasary street: Rs 3,900 per sq.ft (2024)
• Narismachari street: Rs 3,900 per sq.ft (2024)
• Narayana samy lane: Rs 6,300 per sq.ft (2024)
• Natesan Street: Rs 3,400 per sq.ft (2024)
• Narayana Naicken 9th lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Narayan Naicken 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total cost to Rs 5,67,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayan Naicken 1st street?

The Sub Registrar Office that covers Narayan Naicken 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Egmore. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value is considered along with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narayan Naicken 1st street?

The current guideline value of Narayan Naicken 1st street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 425% over the years.

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

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where is the Sub Registrar Office located for Narayan Naicken 1st street?

The Sub Registrar Office for Narayan Naicken 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Narayan Naicken 1st street?

The land classification for Narayan Naicken 1st street is Residential Class II Type - II.