Guideline Value for Narayanan Street

Narayanan Street guideline value

The current guideline value of Narayanan Street in Menambedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Narayanan Street has changed

The guideline value for Narayanan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, which was a significant increase of 49% from Rs 1,200 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The fluctuation between the revisions indicates a complex history of value changes, with the 2012 to 2017 period showing a decrease of 33% before the subsequent increases.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO with the 2024 guideline values ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value is Rs 1,003 per sq.ft, placing Narayanan Street's 2024 figure above this median.

• Narayanan Nagar - 1st Street: Rs 1,002 per sq.ft (2024)
• Narayanan Nagar: Rs 1,002 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayanan Street?

The Sub Registrar Office that covers Narayanan Street is 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 is an essential factor in property transactions in Menambedu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narayanan Street?

The current guideline value of Narayanan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, with several revisions in between, including a rise from Rs 1,200 in 2023.

What is the land classification for Narayanan Street?

Narayanan Street is classified as Residential Class II Type - I according to the guideline value register.

What are the registration fees for properties in Narayanan Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Narayanan Street located?

The Sub Registrar Office for Narayanan Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.