Guideline Value for Narayanan Street / Lord Srinivasa Colony

Narayanan Street / Lord Srinivasa Colony guideline value

The current guideline value of Narayanan Street / Lord Srinivasa Colony is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal Sub Registrar Office (SRO) and falls under the Residential Class III Type - I land classification.

How the guideline value of Narayanan Street / Lord Srinivasa Colony has changed

The guideline value for Narayanan Street / Lord Srinivasa Colony has seen significant revisions over the years. Starting from Rs 174 per sq.ft in 2002, the value increased to Rs 197 in 2003, marking a 13% rise. The value then rose to Rs 400 in 2007, a substantial increase of 103%. By 2017, the guideline value reached Rs 1,139, reflecting a remarkable 185% increase from the previous revision. The latest revision in 2024 sets the value at Rs 1,870 per sq.ft, which is a 64% increase from 2017.

It is important to note that there are no figures available for the revisions in 2012 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 975%, showcasing a steady rise in the value over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value in this area is Rs 2,090 per sq.ft, placing Narayanan Street / Lord Srinivasa Colony's current value below this median.

• Narasimman Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Natarajan Street: Rs 1,980 per sq.ft (2024)
• Narasiman Street (Nagal Kenai): Rs 1,980 per sq.ft (2024)
• Natarajan Street Kalayam Nagar: Rs 1,980 per sq.ft (2024)
• Narasiman Street /Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanan Street / Lord Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees together to Rs 1,68,300. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Narayanan Street / Lord Srinivasa Colony?

The Sub Registrar Office that covers Narayanan Street / Lord Srinivasa Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. To find more details, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Narayanan Street / Lord Srinivasa Colony?

The current guideline value of Narayanan Street / Lord Srinivasa Colony is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly from Rs 174 in 2002 to Rs 1,870 in 2024, marking an overall increase of 975%.

What is the land classification for Narayanan Street / Lord Srinivasa Colony?

Narayanan Street / Lord Srinivasa Colony falls under the Residential Class III Type - I land classification.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 18,70,000 would incur a stamp duty of Rs 1,30,900 at 7%.