Guideline Value for Narayanappan Thottam Street

Narayanappan Thottam Street guideline value

The current guideline value of Narayanappan Thottam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanappan Thottam Street has changed

Over the years, the guideline value for Narayanappan Thottam Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which then doubled to Rs 2,000 per sq.ft in the 2012 revision. The 2023 revision maintained this figure at Rs 2,000 per sq.ft, but the latest 2024 revision increased it by 10% to Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2017 in the register for this street.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 120%. The most significant change occurred between the 2007 and 2012 revisions, where the value saw a 100% increase.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Narayanappan Thottam Street's 2024 figure above this median.

• Narayanappan Thottam 9th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 8th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 7th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 6th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 5th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanappan Thottam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, while the registration fee at 2% amounts to Rs 44,000. Therefore, the total cost for these fees together is Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanappan Thottam Street?

The Sub Registrar Office that covers Narayanappan Thottam Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Narayanappan Thottam Street?

The current guideline value of Narayanappan Thottam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking a 120% increase overall.

What are the registration fees for property in Narayanappan Thottam Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles registrations for this street?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, handles registrations for Narayanappan Thottam Street.

What is the median guideline value in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Narayanappan Thottam Street's 2024 value being above this median.