Guideline Value for Narayanapuram, Ram Nagar South,

Narayanapuram, Ram Nagar South, guideline value

The current guideline value of Narayanapuram, Ram Nagar South, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is part of Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - III.

How the guideline value of Narayanapuram, Ram Nagar South, has changed

According to the guideline value register, there are no figures available for Narayanapuram, Ram Nagar South, for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, effective from 1 July 2024, sets the guideline value at Rs 2,750 per sq.ft.

The 2024 revision's figure of Rs 2,750 per sq.ft is equal to the median guideline value for the 1823 streets in Madipakkam-1, which ranges from Rs 1,650 to Rs 5,500 per sq.ft. There have been no changes in the guideline value between the revisions listed above.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values vary significantly, with the median being Rs 2,750 per sq.ft. Narayanapuram, Ram Nagar South, aligns with this median figure. The following are other streets in Madipakkam-1:

• Narayanapuram/Kubera Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Narayanapuram: Rs 3,850 per sq.ft (2024)
• Narayanaapuram 8th Street: Rs 3,850 per sq.ft (2024)
• Natarajan Street (A.P. Natarajan Street): Rs 2,750 per sq.ft (2024)
• Nanjil Street: Rs 2,200 per sq.ft (2024)
• Nandan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapuram, Ram Nagar South,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanapuram, Ram Nagar South,?

The Velacheri Sub Registrar Office covers Narayanapuram, Ram Nagar South. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for legal documentation and can impact the overall costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Narayanapuram, Ram Nagar South?

The current guideline value of Narayanapuram, Ram Nagar South, is Rs 2,750 per sq.ft, effective from 1 July 2024.

What land classification does Narayanapuram, Ram Nagar South, fall under?

Narayanapuram, Ram Nagar South, is classified as Residential Class I Type - III.

How many revisions are there for Narayanapuram, Ram Nagar South?

There are no figures available for Narayanapuram, Ram Nagar South, for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024.

What is the registration office for Narayanapuram, Ram Nagar South?

The registration office for Narayanapuram, Ram Nagar South, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Narayanapuram, Ram Nagar South?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.