Guideline Value for Narayanan Street

Narayanan Street guideline value

The current guideline value of Narayanan Street in Ayanavaram village, under the AnnaNagar SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Narayanan Street has changed

The guideline value for Narayanan Street has seen several revisions over the years. In 2002, the value was Rs 504 per sq.ft, which increased to Rs 566 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and by 2012, it was Rs 4,500 per sq.ft. The value then dropped to Rs 3,015 per sq.ft in 2017, before increasing again to Rs 4,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 4,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 12% from 2002 to 2003, followed by a 112% rise from 2003 to 2007. There was a substantial increase of 275% from 2007 to 2012, but a decrease of 33% occurred from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and finally increased by 9% from 2023 to 2024. The overall change from 2002 to 2024 is an increase of 872%.

Guideline values in Ayanavaram

Ayanavaram features a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which matches the current value for Narayanan Street.

• N Block, 17th Street: Rs 11,000 per sq.ft (2024)
• N-Block 18th Street: Rs 11,000 per sq.ft (2024)
• N-Block 19th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 20th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 21st Street: Rs 11,000 per sq.ft (2024)
• N- Block, 22nd Street: Rs 11,000 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanan Street?

The Sub Registrar Office that covers Narayanan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to set realistic expectations regarding their property's worth.

Frequently asked questions

What is the current guideline value of Narayanan Street?

The current guideline value of Narayanan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 504 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 872% over this period.

What is the land classification for Narayanan Street?

Narayanan Street is classified as Residential Class I Type - III, which indicates its suitability for residential purposes.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 49,00,000, the total fees would amount to Rs 4,41,000.

Where is the Sub Registrar Office located for Narayanan Street?

The Sub Registrar Office for Narayanan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.