Guideline Value for Narayanan Nagar

Narayanan Nagar guideline value

The current guideline value of Narayanan Nagar, located in Menambedu village under the Ambattur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Narayanan Nagar has changed

The guideline value for Narayanan Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 700 per sq.ft. This increased to Rs 469 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, marking an increase of 113%. The most recent revision in 2024 set the guideline value at Rs 1,002 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 43%.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, making the guideline value of Narayanan Nagar slightly below this median.

• Narayanan Nagar - 1st Street: Rs 1,002 per sq.ft (2024)
• Narayanan Street: Rs 1,300 per sq.ft (2024)
• Narasiman Street: Rs 1,001 per sq.ft (2024)
• Nehru Street: Rs 1,300 per sq.ft (2024)
• Netaji Street: Rs 1,300 per sq.ft (2024)
• New Building Colony: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, making the total cost for these fees Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayanan Nagar?

Narayanan Nagar falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Menambedu. It is used to determine the stamp duty and registration fees applicable during the property registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Narayanan Nagar?

The current guideline value of Narayanan Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 1,002 per sq.ft in 2024, with various revisions in between, including a significant increase of 113% from 2017 to 2023.

What are the stamp duty and registration fees for property in Narayanan Nagar?

For a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 and the registration fee would be Rs 20,040, totaling Rs 90,180.

Which Sub Registrar Office covers Narayanan Nagar?

Narayanan Nagar is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value for streets in Menambedu?

The median guideline value for streets in Menambedu is Rs 1,003 per sq.ft, with Narayanan Nagar's value being slightly below this median at Rs 1,002 per sq.ft.