Guideline Value for Narayana layout (Thanalakshmi Street)

Narayana layout (Thanalakshmi Street) guideline value

The current guideline value for Narayana layout (Thanalakshmi Street) is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class IV Type - I.

How the guideline value of Narayana layout (Thanalakshmi Street) has changed

The guideline value for Narayana layout (Thanalakshmi Street) has seen several revisions over the years. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 122% rise. However, in 2017, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current rate of Rs 1,100 per sq.ft in 2024, a 10% increase from the previous year.

Between the revisions, the overall increase from 2007 to 2024 is 144%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Narayana layout (Thanalakshmi Street) is below this median.

• Narayana layout (Vijayalakshmi Street): Rs 850 per sq.ft (2024)
• Natarajan Colony: Rs 850 per sq.ft (2024)
• Natarajan Nagar: Rs 850 per sq.ft (2024)
• Natarajan Street: Rs 850 per sq.ft (2024)
• Navalar Street: Rs 850 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana layout (Thanalakshmi Street)

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayana layout (Thanalakshmi Street)?

The Narayana layout (Thanalakshmi Street) falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Narayana layout (Thanalakshmi Street)?

The current guideline value for Narayana layout (Thanalakshmi Street) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 144% over the years.

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

For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 99,000, based on the guideline value of Rs 11,00,000.

Which office handles registrations for Narayana layout (Thanalakshmi Street)?

The Selaiyur Sub Registrar Office handles registrations for Narayana layout (Thanalakshmi Street), located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Narayana layout (Thanalakshmi Street)?

Narayana layout (Thanalakshmi Street) is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.