Guideline Value for Narayana layout (Vijayalakshmi Street)

Narayana layout (Vijayalakshmi Street) guideline value

The current guideline value for Narayana layout (Vijayalakshmi Street) is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, and it falls under the Residential Class V Type - I land classification.

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

The guideline value for Narayana layout (Vijayalakshmi Street) has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 167% rise. However, it then decreased to Rs 536 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 800 per sq.ft in 2023, and most recently, it has been revised to Rs 850 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase has been 183%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

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

• Narayana layout (Thanalakshmi Street): Rs 1,100 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 (Vijayalakshmi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

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

The Sub Registrar Office covering Narayana layout (Vijayalakshmi Street) is 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 more details.

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

The guideline value is a crucial factor when registering property in Selaiyur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Narayana layout (Vijayalakshmi Street)?

The current guideline value of Narayana layout (Vijayalakshmi Street) is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, reflecting an overall increase of 183% over the years.

What are the stamp duty and registration fees for property in Narayana layout?

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which Sub Registrar Office handles registrations for this street?

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

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

Narayana layout (Vijayalakshmi Street) falls under the Residential Class V Type - I land classification.