Guideline Value for Narayanappa street

Narayanappa street guideline value

The current guideline value of Narayanappa street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Narayanappa street has changed

The guideline value for Narayanappa street has seen several revisions over the years. Starting with the 2007 revision, the value was Rs 2,300 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, followed by a decrease to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall change in guideline value is +209%. Notably, the increase from 2017 to 2023 was +49%, while the jump from 2023 to 2024 is +9%. The period from 2012 to 2017 saw a decline of -33%, and the significant rise from 2007 to 2012 was +183%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. Narayanappa street's 2024 figure of Rs 7,100 per sq.ft is above this median.

• Narayana Sarang gardern 1st lane: Rs 4,900 per sq.ft (2024)
• Narayana Sarang gardern 2nd lane: Rs 4,900 per sq.ft (2024)
• Narayana Sarang gardern street (godown street): Rs 4,900 per sq.ft (2024)
• Naniappan street: Rs 5,500 per sq.ft (2024)
• Muthumari street: Rs 5,500 per sq.ft (2024)
• New Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanappa street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost for these fees Rs 6,39,000. It is important 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 information.

Which Sub Registrar Office covers Narayanappa street?

The Sub Registrar Office that covers Narayanappa street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate revenue from property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the costs involved in a property transaction.

Frequently asked questions

What is the current guideline value of Narayanappa street?

The current guideline value of Narayanappa street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +209% over these years.

What are the other streets in Muthialpet and their guideline values?

Other streets in Muthialpet include Narayana Sarang gardern 1st lane, Narayana Sarang gardern 2nd lane, Narayana Sarang gardern street (godown street), Naniappan street, Muthumari street, and New Street, with values ranging from Rs 4,900 to Rs 5,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Narayanappa street?

The stamp duty for properties in Narayanappa street is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 6,39,000.

Which office handles the registration for Narayanappa street?

The Chennai North Joint I Sub Registrar Office handles the registration for Narayanappa street, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.