Guideline Value for Narayana Naicken 10th lane

Narayana Naicken 10th lane guideline value

The current guideline value of Narayana Naicken 10th lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Narayana Naicken 10th lane has changed

The guideline value for Narayana Naicken 10th lane has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 601 per sq.ft. This increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, which was an increase of 81%. By 2012, the value was Rs 6,500 per sq.ft, reflecting a 442% increase from the previous revision. However, this figure dropped by 33% to Rs 4,355 per sq.ft in 2017.

In the subsequent revisions, the guideline value rose again to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 1081%. There are no figures available for years other than those listed.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Narayana Naicken 10th lane.

• Narayana Naicken 11th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 12th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 1st lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 2nd lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 2nd street: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 3rd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Naicken 10th lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for these fees would be Rs 6,39,000. It is important to note that the 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 Naicken 10th lane?

The Sub Registrar Office that covers Narayana Naicken 10th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. When a property is registered, the guideline value is used to calculate these fees, ensuring that they are based on a standard valuation.

It is essential for buyers and sellers to be aware of the guideline value as it can impact the overall cost of the transaction. Understanding this value helps in making informed decisions during the property buying or selling process in Egmore.

Frequently asked questions

What is the current guideline value for Narayana Naicken 10th lane?

The current guideline value for Narayana Naicken 10th lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 601 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1081% over this period.

What are the stamp duty and registration fees for property in Narayana Naicken 10th lane?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 6,39,000.

Where is the Sub Registrar Office for Narayana Naicken 10th lane located?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003, and it covers Narayana Naicken 10th lane.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a standard valuation that helps in calculating the costs associated with buying or selling property.