Guideline Value for Narayana Sarang gardern 2nd lane

Narayana Sarang gardern 2nd lane guideline value

The current guideline value of Narayana Sarang gardern 2nd lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Narayana Sarang gardern 2nd lane has changed

The guideline value for Narayana Sarang gardern 2nd lane has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 3,015 per sq.ft in 2017, a decline of 33% from the previous revision. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as per the 2024 revision, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 227%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing the guideline value of Narayana Sarang gardern 2nd lane below this median.

• Narayana Sarang gardern 1st lane: Rs 4,900 per sq.ft (2024)
• Narayana Sarang gardern street (godown street): Rs 4,900 per sq.ft (2024)
• Narayanappa street: Rs 7,100 per sq.ft (2024)
• Naniappan street: Rs 5,500 per sq.ft (2024)
• Muthumari street: Rs 5,500 per sq.ft (2024)
• New Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana Sarang gardern 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. 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 Sarang gardern 2nd lane?

The Narayana Sarang gardern 2nd lane falls under the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property transaction occurs, the guideline value helps determine the official value of the property, which is used for taxation purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their real estate transactions.

Frequently asked questions

What is the current guideline value of Narayana Sarang gardern 2nd lane?

The current guideline value of Narayana Sarang gardern 2nd lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 227% over the years.

What is the median guideline value in Muthialpet?

The median guideline value for streets in Muthialpet is Rs 5,500 per sq.ft, with Narayana Sarang gardern 2nd lane being below this median at Rs 4,900 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles the registration for Narayana Sarang gardern 2nd lane?

The registration for Narayana Sarang gardern 2nd lane is handled by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.