Guideline Value for Narayana Naicken 8th lane

Narayana Naicken 8th lane guideline value

The current guideline value of Narayana Naicken 8th lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Narayana Naicken 8th lane has changed

The guideline value for Narayana Naicken 8th lane has seen several revisions over the years. Starting from 2002, the guideline value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. The next significant jump occurred in 2007, with the value rising to Rs 1,200 per sq.ft. In 2012, it was recorded at Rs 6,500 per sq.ft, which then decreased to Rs 4,355 per sq.ft in 2017. Following this, the value increased to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in 2024.

Between the revisions, notable changes include a 9% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 442% increase from 2007 to 2012, an 81% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1081%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry 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 guideline value for Narayana Naicken 8th lane.

• Narayana Naicken 7th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 9th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 6th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 5h lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 4th lane: 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 8th 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, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. Please 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 8th lane?

The Sub Registrar Office that covers Narayana Naicken 8th 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 plays a crucial role in the registration process 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 compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees are based on a fair assessment of the property's value according to the local regulations.

Frequently asked questions

What is the current guideline value of Narayana Naicken 8th lane?

The current guideline value of Narayana Naicken 8th 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 changed significantly 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 is the land classification for Narayana Naicken 8th lane?

The land classification for Narayana Naicken 8th lane is Residential Class II Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in this lane?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Where is the Sub Registrar Office for Narayana Naicken 8th lane located?

The Sub Registrar Office covering Narayana Naicken 8th lane is located at 1103, Poonamallee High Road, Chennai-600 003.