Guideline Value for Narayana Krishna Rajapuram St

Narayana Krishna Rajapuram St guideline value

The current guideline value of Narayana Krishna Rajapuram St is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Narayana Krishna Rajapuram St has changed

The guideline value for Narayana Krishna Rajapuram St has undergone several revisions over the years. Starting from Rs 404 per sq.ft in 2002, it increased to Rs 444 per sq.ft in 2003. The value then saw a significant rise to Rs 945 per sq.ft in 2007, followed by a further increase to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017. The most recent revision in 2024 brought the value up to Rs 5,500 per sq.ft, marking a 64% increase from the 2017 figure.

There is no guideline value recorded for Narayana Krishna Rajapuram St in 2023. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1261%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value is Rs 6,600 per sq.ft, which means Narayana Krishna Rajapuram St's 2024 figure is below this median.

• Narasingapuram Street: Rs 16,500 per sq.ft (2024)
• Narasimhalala Street: Rs 5,500 per sq.ft (2024)
• Nammalwar Street: Rs 5,500 per sq.ft (2024)
• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Krishna Rajapuram St

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees together Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Narayana Krishna Rajapuram St?

The Sub Registrar Office that covers Narayana Krishna Rajapuram St is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is an important factor in the property registration process in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Narayana Krishna Rajapuram St?

The current guideline value of Narayana Krishna Rajapuram St is Rs 5,500 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 404 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1261% over this period.

What is the median guideline value for streets in Triplicane?

The median guideline value for streets in Triplicane is Rs 6,600 per sq.ft, which is higher than the current value of Narayana Krishna Rajapuram St.

What are the stamp duty rates applicable for property transactions?

The stamp duty rate for property transactions is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Narayana Krishna Rajapuram St located?

The Sub Registrar Office for Narayana Krishna Rajapuram St is located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.