Guideline Value for Narayana Nagar

Narayana Nagar guideline value

The current guideline value of Narayana Nagar, located in Mambakkam village under the Sunguvarchattram SRO, is Rs 505 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Narayana Nagar has changed

The guideline value for Narayana Nagar has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 400 per sq.ft, which increased to Rs 505 per sq.ft in the 2024 revision, marking a change of +26%.

This increase reflects the current valuation trends in the area, with the 2024 figure now established. The previous revisions did not provide specific figures for this street, highlighting the significant jump in the latest valuation.

Guideline values in Mambakkam

Mambakkam village has 39 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, placing Narayana Nagar's 2024 figure above this median.

• Naddu Street: Rs 275 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• New Avenue: Rs 500 per sq.ft (2024)
• Padavettamman Kovil Street: Rs 305 per sq.ft (2024)
• Mettu Street: Rs 305 per sq.ft (2024)
• M.B.C Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 505 per sq.ft, the total guideline value amounts to Rs 5,05,000. The stamp duty at 7% would be Rs 35,350, and the registration fee at 2% would be Rs 10,100, bringing the total fees to Rs 45,450. 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 Nagar?

The Sub Registrar Office that covers Narayana Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor in property transactions in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. It is advisable to check the latest guideline values to ensure accurate financial planning.

Frequently asked questions

What is the current guideline value of Narayana Nagar?

The current guideline value of Narayana Nagar is Rs 505 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 400 per sq.ft to Rs 505 per sq.ft, which is a change of +26%.

What is the land classification for Narayana Nagar?

Narayana Nagar is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Narayana Nagar?

The Sub Registrar Office for Narayana Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated in Narayana Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 5,05,000 would incur a stamp duty of Rs 35,350 at 7%.