Guideline Value for Narayana Nagar-II

Narayana Nagar-II guideline value

The current guideline value of Narayana Nagar-II is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Vada Mangalam village under the Sunguvarchattram SRO, classified as Residential Special Type - III.

How the guideline value of Narayana Nagar-II has changed

The guideline value for Narayana Nagar-II has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 234 per sq.ft. However, from 2017 to 2023, the value increased by 50% back to Rs 350 per sq.ft, and this rate has been maintained through the 2024 revision as well, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 350 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO with a guideline value for 2024 ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Narayana Nagar-II's 2024 figure above this median.

• N.S.K Salai: Rs 350 per sq.ft (2024)
• Mooventhar Street: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• M.B.C Street: Rs 250 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)
• Kullakarai Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Nagar-II

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total charges to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Narayana Nagar-II?

The Sub Registrar Office covering Narayana Nagar-II is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration process when buying or selling property in Vada Mangalam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a legally recognized price.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narayana Nagar-II?

The current guideline value of Narayana Nagar-II is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, with a drop to Rs 234 per sq.ft in 2017 before returning to Rs 350 per sq.ft in 2023 and 2024.

What are the other streets in Vada Mangalam with their guideline values?

Other streets in Vada Mangalam include N.S.K Salai at Rs 350 per sq.ft, Mooventhar Street and M.G.R Street at Rs 200 per sq.ft, M.B.C Street at Rs 250 per sq.ft, and Periyapallaiyathamman Kovil Street and Kullakarai Street at Rs 200 per sq.ft.

What is the stamp duty for property in Narayana Nagar-II?

The stamp duty for property in Narayana Nagar-II is 7% of the guideline value. For a 1,000 sq.ft plot valued at Rs 3,50,000, the stamp duty would be Rs 24,500.

Where is the Sub Registrar Office for Narayana Nagar-II located?

The Sub Registrar Office for Narayana Nagar-II is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.