Guideline Value for Narayana Naicken11th lane

Narayana Naicken11th lane guideline value

The current guideline value for Narayana Naicken11th lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Narayana Naicken11th lane has changed

Since the 2002 revision, the guideline value for Narayana Naicken11th lane has seen significant changes. In 2002, the guideline value was Rs 601 per sq.ft. It increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value continued to grow, reaching Rs 1,200 per sq.ft in 2007, which represented an 81% increase. However, there was a substantial jump to Rs 6,500 per sq.ft in 2012, showing a 442% increase. The guideline value then dropped to Rs 4,355 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in 2024, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,081%. It is important to note that there are no figures available for revisions in the years not mentioned in the register for this street.

Guideline values in Egmore

In Egmore, 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, with the median value being Rs 7,100 per sq.ft. Narayana Naicken11th lane's 2024 guideline value is equal to this median.

• Narayana Naicken 10th 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 Naicken11th lane

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the 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, making the total 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.

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

Which Sub Registrar Office covers Narayana Naicken11th lane?

The Sub Registrar Office that covers Narayana Naicken11th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Egmore. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically based on various factors.

When a buyer registers a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government collects appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narayana Naicken11th lane?

The current guideline value of Narayana Naicken11th 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 1,081% over the years.

What is the land classification for Narayana Naicken11th lane?

Narayana Naicken11th lane is classified as Residential Class II Type - I land.

Where can I find the Sub Registrar Office for Narayana Naicken11th lane?

The Sub Registrar Office for Narayana Naicken11th lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions in Egmore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for registration fees.