Guideline Value for Narayanapalayam Street

Narayanapalayam Street guideline value

The current guideline value of Narayanapalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class II Type - II.

How the guideline value of Narayanapalayam Street has changed

The guideline value for Narayanapalayam Street has seen several revisions over the years. In 2007, the value was set at Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a 100% increase. However, in 2017, the value dropped to Rs 670 per sq.ft, representing a decrease of 33%. The value then rose significantly to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Narayanapalayam Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in 2nd Division

In the 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that Narayanapalayam Street's 2024 guideline value is below this median.

• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Medu Arasamara Street: Rs 1,100 per sq.ft (2024)
• Nellukara Street: Rs 5,500 per sq.ft (2024)
• Nethaji Nagar: Rs 880 per sq.ft (2024)
• Nethaji Road: Rs 880 per sq.ft (2024)
• Nethaji Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapalayam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanapalayam Street?

Narayanapalayam Street is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value plays a crucial role in the registration process of properties in 2nd Division. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in the official registry.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Narayanapalayam Street?

The current guideline value of Narayanapalayam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

What is the classification of Narayanapalayam Street?

Narayanapalayam Street is classified as Residential Class II Type - II under the Kanchipuram Joint IV SRO.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Narayanapalayam Street?

The Kanchipuram Joint IV Sub Registrar Office handles registrations for Narayanapalayam Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.