Guideline Value for Narayanan Street

Narayanan Street guideline value

The current guideline value of Narayanan Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Mixed Special Type - II.

How the guideline value of Narayanan Street has changed

The guideline value for Narayanan Street has seen significant changes over the years. In 2002, the guideline value was Rs 343 per sq.ft, which increased to Rs 380 per sq.ft in 2003, marking an 11% rise. Following this, the value surged to Rs 750 per sq.ft in 2007, reflecting a substantial increase of 97%. The value then jumped dramatically to Rs 3,900 per sq.ft in 2012, a remarkable 420% increase. However, it dropped to Rs 2,613 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,900 per sq.ft in 2023, before reaching the current figure of Rs 4,290 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1151%. The register has no figures for revisions other than those mentioned.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value range from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, placing Narayanan Street's value above this median.

• Navamani Street: Rs 3,520 per sq.ft (2024)
• Navasakthi Nagar: Rs 3,520 per sq.ft (2024)
• Nehru Street: Rs 3,520 per sq.ft (2024)
• Muthumarriamman Nagar Annex: Rs 3,960 per sq.ft (2024)
• Muthumarriamman Nagar: Rs 3,960 per sq.ft (2024)
• Nethaji Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanan Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 42,90,000. The stamp duty at 7% would be Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, totaling Rs 3,86,100. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling a property in Porur, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation.

It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area, ensuring transparency and fairness in the market.

Frequently asked questions

What is the current guideline value of Narayanan Street?

The current guideline value of Narayanan Street is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 343 per sq.ft in 2002 to Rs 4,290 per sq.ft in 2024, marking an overall increase of 1151%.

What is the land classification of Narayanan Street?

Narayanan Street is classified as Mixed Special Type - II under the Kunrathur SRO.

Where can I find the registration office for Narayanan Street?

The registration office for Narayanan Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Narayanan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,86,100.