Guideline Value for Narayana Nagar

Narayana Nagar guideline value

The current guideline value of Narayana Nagar is Rs 1,200 per sq.ft. This area is located in Vandalur village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Class I Type - I.

How the guideline value of Narayana Nagar has changed

The guideline value for Narayana Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 550 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking an increase of 118%. However, in the 2017 revision, the value dropped to Rs 804 per sq.ft, which was a decrease of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,200 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from 2007 to 2023, the guideline value has increased by 118%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Currently, there are no specific village figures available for Vandalur. Narayana Nagar is one of the streets under the jurisdiction of the Gooduvancheri SRO.

Stamp duty and registration fee for property in Narayana Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for stamp duty and registration fee would be Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Narayana Nagar?

The Sub Registrar Office that covers Narayana Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vandalur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The value serves as a benchmark for assessing the property’s worth, ensuring that the fees are calculated fairly based on the established rates.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the actual market conditions.

Frequently asked questions

What is the current guideline value of Narayana Nagar?

The current guideline value of Narayana Nagar is Rs 1,200 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revision in 2023 setting it at Rs 1,200 per sq.ft, up from Rs 804 per sq.ft in 2017. The value also increased from Rs 550 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012.

Is there a guideline value available for 2024?

No, the register does not have a guideline value figure for Narayana Nagar for the year 2024.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How do I calculate stamp duty and registration fees for a property in Narayana Nagar?

To calculate the stamp duty and registration fees, you can use the current guideline value. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. Stamp duty would be 7% of this amount, and registration fees would be 2%, which can be calculated using the stamp duty and registration fee calculator.