Guideline Value for Narayana Avenue

Narayana Avenue guideline value

The current guideline value of Narayana Avenue in Vallam village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint I SRO and is classified as Residential Special Type - I.

How the guideline value of Narayana Avenue has changed

The guideline value for Narayana Avenue has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 180 per sq.ft, which saw a significant increase to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 456%. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 1,000 per sq.ft, and the same figure was retained in the 2024 revision, indicating no change from the previous year.

It is important to note that there are no figures available for Narayana Avenue in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 456%, reflecting the changes in the area's valuation over time.

Guideline values in Vallam

In Vallam, there are 30 streets under the Chengleput Joint I SRO, with 2024 guideline values ranging from Rs 750 to Rs 1,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Narayana Avenue at this median value.

• Nehru Nagar: Rs 1,000 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)
• Pandian Nagar: Rs 1,000 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Madha Koil Street: Rs 750 per sq.ft (2024)
• Preethi Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayana Avenue?

The Sub Registrar Office that covers Narayana Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Narayana Avenue?

The current guideline value of Narayana Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft in both 2023 and 2024.

What are the other streets in Vallam with their guideline values?

Other streets in Vallam include Nehru Nagar, Muthamizh Nagar, and Pandian Nagar, all valued at Rs 1,000 per sq.ft in 2024, while Mariamman Koil Street and Madha Koil Street are valued at Rs 750 per sq.ft.

What are the stamp duty and registration fees for a property on Narayana Avenue?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000, and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles registrations for Narayana Avenue?

The Chengleput Joint I Sub Registrar Office handles registrations for Narayana Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.