Guideline Value for Narayan NaickenStreet

Narayan NaickenStreet guideline value

The current guideline value of Narayan NaickenStreet is Rs 10,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and the land classification is Mixed Type - II.

How the guideline value of Narayan NaickenStreet has changed

The guideline value of Narayan NaickenStreet has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft. This increased dramatically to Rs 9,200 per sq.ft in the 2012 revision, marking a rise of 513%. However, in the 2017 revision, the value decreased to Rs 6,164 per sq.ft, a decline of 33%. The value then rose again to Rs 9,200 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 10,100 per sq.ft, an increase of 10% from the previous year.

There are no figures available for Narayan NaickenStreet in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 573%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. Narayan NaickenStreet's 2024 guideline value is above this median.

• Narayan Naicken 1st street: Rs 6,300 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 NaickenStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 10,100 per sq.ft, the total guideline value would be Rs 1,01,00,000. The stamp duty at 7% would amount to Rs 7,07,000, while the registration fee at 2% would be Rs 2,02,000. Together, the total fees would be Rs 9,09,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayan NaickenStreet?

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

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

The guideline value is a crucial factor when registering property transactions in Egmore. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the government. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Narayan NaickenStreet?

The current guideline value of Narayan NaickenStreet is Rs 10,100 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 1,500 per sq.ft in 2007 to Rs 10,100 per sq.ft in 2024, reflecting an overall increase of 573% since 2007.

Where can I find the registration office for Narayan NaickenStreet?

The registration office for Narayan NaickenStreet is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the range of guideline values for streets in Egmore?

The guideline values for streets in Egmore under the Periamet SRO range from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,01,00,000, the stamp duty would be Rs 7,07,000 at a rate of 7%.