Guideline Value for Narayanan 2nd Street

Narayanan 2nd Street guideline value

The current guideline value of Narayanan 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Muthiyalpet village under the Sowcarpet SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanan 2nd Street has changed

The guideline value for Narayanan 2nd Street has seen several revisions over the years. In 2003, the value was Rs 931 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a 29% rise. The value then jumped significantly to Rs 4,000 per sq.ft in 2012, reflecting a 233% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for Narayanan 2nd Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 373%.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Narayanan 2nd Street.

• Narayanan 1st Street: Rs 4,400 per sq.ft (2024)
• Narayana Mudali Street: Rs 13,000 per sq.ft (2024)
• Narayana Chetty Street: Rs 4,400 per sq.ft (2024)
• Narayanan Aiyer Street: Rs 5,500 per sq.ft (2024)
• Narayanan Lane: Rs 4,900 per sq.ft (2024)
• Narasimha Desai Dasari Lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanan 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 accurate calculations.

Which Sub Registrar Office covers Narayanan 2nd Street?

The Sub Registrar Office that covers Narayanan 2nd Street is the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Muthiyalpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable during the registration process.

It is essential for both buyers and sellers to be aware of the current guideline values, as these can affect the overall cost involved in property transactions. Accurate knowledge of these figures ensures compliance with local regulations and helps in budgeting for additional costs.

Frequently asked questions

What is the current guideline value of Narayanan 2nd Street?

The current guideline value of Narayanan 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 931 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, with several revisions in between, including a notable increase of 373% overall.

What is the median guideline value in Muthiyalpet?

The median guideline value in Muthiyalpet is Rs 4,400 per sq.ft, which is the same as the current value for Narayanan 2nd Street.

What are the stamp duty and registration fees for properties in Narayanan 2nd Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Narayanan 2nd Street located?

The Sowcarpet Sub Registrar Office is located at No.11, Davidson Street, Sowcarpet, Chennai-01, which covers Narayanan 2nd Street.