Guideline Value for Narayanapuram/Kubera Nagar 8th Street

Narayanapuram/Kubera Nagar 8th Street guideline value

The current guideline value of Narayanapuram/Kubera Nagar 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanapuram/Kubera Nagar 8th Street has changed

The guideline value register shows no figures for Narayanapuram/Kubera Nagar 8th Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 3,850 per sq.ft.

Since there have been no changes between the revisions listed, the 2024 figure stands alone as the current guideline value for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO carrying a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. The guideline value of Narayanapuram/Kubera Nagar 8th Street is above this median.

• Narayanapuram, Ram Nagar South: Rs 2,750 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/Kubera Nagar 8th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 Narayanapuram/Kubera Nagar 8th Street?

The Narayanapuram/Kubera Nagar 8th Street falls under the Velacheri Sub Registrar Office, 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 crucial factor when registering property transactions in Madipakkam-1. It helps determine the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. It ensures that the property is valued fairly according to the rates set by the government, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Narayanapuram/Kubera Nagar 8th Street?

The current guideline value of Narayanapuram/Kubera Nagar 8th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. The register has no figures for the years 2023, 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Narayanapuram/Kubera Nagar 8th Street?

Narayanapuram/Kubera Nagar 8th Street is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at the current guideline value of Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500.

Which office handles registrations for Narayanapuram/Kubera Nagar 8th Street?

The Velacheri Sub Registrar Office handles registrations for Narayanapuram/Kubera Nagar 8th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.