Guideline Value for Narayanapuram

Narayanapuram guideline value

The current guideline value of Narayanapuram, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Narayanapuram has changed

The guideline value for Narayanapuram has seen several revisions over the years. The earliest recorded figure was Rs 93 per sq.ft in 2002, which increased significantly to Rs 328 per sq.ft in 2007. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, but then decreased to Rs 1,005 per sq.ft in 2017. The value remained stable at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1513%. Notably, there is no figure for the year 2003 in the register for this street.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,500 per sq.ft, which is equal to the current guideline value for Narayanapuram.

• Narayanapuram Main Road: Rs 1,500 per sq.ft (2024)
• Nangooram Nagar: Rs 1,000 per sq.ft (2024)
• Nandhewarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)
• Nandheswarar Nagar 1 Street: Rs 1,500 per sq.ft (2024)
• Nandheswarar Avenue: Rs 1,500 per sq.ft (2024)
• Navin Satish Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. 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 further calculations.

Which Sub Registrar Office covers Narayanapuram?

The Sub Registrar Office covering Narayanapuram is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration of property transactions in Nandhivaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties in understanding the fair valuation of the property. It is important to note that the duty is charged on the higher of the guideline value and the sale price, ensuring compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Narayanapuram?

The current guideline value of Narayanapuram is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 93 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and remained stable at Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification for Narayanapuram?

The land classification for Narayanapuram is Residential Special Type - I.

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

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where is the Sub Registrar Office for Narayanapuram located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.