Guideline Value for Narayana samy lane

Narayana samy lane guideline value

The current guideline value of Narayana samy lane is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO), and falls under the Residential Class II Type - II land classification.

How the guideline value of Narayana samy lane has changed

The guideline value for Narayana samy lane has undergone several revisions over the years. Starting from Rs 601 per sq.ft in 2002, it increased to Rs 663 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007, and then it jumped to Rs 5,800 per sq.ft in 2012. However, it decreased to Rs 3,886 per sq.ft in 2017 before climbing back to Rs 5,800 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 6,300 per sq.ft.

In terms of percentage changes, the guideline value increased by 9% from 2023 to 2024. There was a notable increase of 49% from 2017 to 2023. The value had decreased by 33% from 2012 to 2017. The rise from 2007 to 2012 was substantial at 383%, and the increase from 2003 to 2007 was 81%. From 2002 to 2003, the value rose by 10%. Overall, from 2002 to 2024, the guideline value has increased by 948%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing the 2024 guideline value of Narayana samy lane below this median.

• Narayan Naicken 1st street: Rs 6,300 per sq.ft (2024)
• Narayan NaickenStreet: Rs 10,100 per sq.ft (2024)
• NarayasamyDasary street: Rs 3,900 per sq.ft (2024)
• Narismachari street: Rs 3,900 per sq.ft (2024)
• Narayana Naicken 9th lane: Rs 7,100 per sq.ft (2024)
• Narayana Naicken 8th lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Narayana samy lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total to Rs 5,67,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Narayana samy lane?

The Sub Registrar Office that covers Narayana samy 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 is a crucial factor when buying or selling property in Egmore. 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 a buyer purchases a property, the guideline value helps ensure that the property is registered at a fair value, which is essential for both the buyer and the seller. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Narayana samy lane?

The current guideline value of Narayana samy lane is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 601 per sq.ft in 2002 and reaching Rs 6,300 per sq.ft in 2024, showing a total increase of 948% over this period.

What is the land classification for Narayana samy lane?

Narayana samy lane falls under the Residential Class II Type - II land classification.

What are the stamp duty and registration fees for a property in Narayana samy lane?

For a property valued at Rs 63,00,000, the stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Where can I find more information about the Sub Registrar Office?

The Periamet Sub Registrar Office, which covers Narayana samy lane, is located at 1103, Poonamallee High Road, Chennai-600 003. You can find more information by visiting the relevant link.