Guideline Value for Narayanaapuram 8th Street

Narayanaapuram 8th Street guideline value

The current guideline value for Narayanaapuram 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanaapuram 8th Street has changed

The guideline value register shows no figures for Narayanaapuram 8th Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 3,850 per sq.ft.

Since there are no previous figures for this street, there have been no changes recorded in the guideline value. The 2024 revision stands alone as the first recorded value for Narayanaapuram 8th Street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, positioning Narayanaapuram 8th Street above that median.

• Narayanapuram: Rs 3,850 per sq.ft (2024)
• Narayanapuram/Kubera Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Narayanapuram, Ram Nagar South: Rs 2,750 per sq.ft (2024)
• Nanjil Street: Rs 2,200 per sq.ft (2024)
• Nandan Street: Rs 1,650 per sq.ft (2024)
• Natarajan Street (A.P. Natarajan Street): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanaapuram 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total cost of Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Narayanaapuram 8th Street?

The Sub Registrar Office that covers Narayanaapuram 8th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees payable at the time of property registration.

When buying or selling a property in Madipakkam-1, it is essential to be aware of the current guideline value, as it affects both the buyer's and seller's financial obligations. The guideline value ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of Narayanaapuram 8th Street?

The current guideline value of Narayanaapuram 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

What is the land classification for Narayanaapuram 8th Street?

Narayanaapuram 8th Street is classified as Residential Class I Type - I.

Have there been any changes in the guideline value for Narayanaapuram 8th Street?

There have been no recorded changes in the guideline value for Narayanaapuram 8th Street, as it has only one figure from the 2024 revision.

Which Sub Registrar Office handles registrations for Narayanaapuram 8th Street?

The Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, handles registrations for Narayanaapuram 8th Street.

How is stamp duty calculated for properties in Narayanaapuram 8th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.