Guideline Value for Narayanapuram

Narayanapuram guideline value

The current guideline value of Narayanapuram, located in Karunagaracheri village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Narayanapuram has changed

The guideline value of Narayanapuram has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a significant rise of 300%. However, in 2017, the value decreased to Rs 134 per sq.ft, representing a decline of 33%. The value then increased to Rs 200 per sq.ft in 2023, with no change in 2024.

From 2017 to 2023, the guideline value rose by 49%. The current figure of Rs 200 per sq.ft in 2024 is the same as the 2023 revision. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karunagaracheri

Karunagaracheri village has 11 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft. The median value is Rs 200 per sq.ft, and Narayanapuram's 2024 figure aligns with this median.

• Manthillaiyamman Koil Street: Rs 100 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Sasthapuri: Rs 200 per sq.ft (2024)
• Sree Karunambigai Nagar: Rs 200 per sq.ft (2024)
• Azhagar City: Rs 200 per sq.ft (2024)
• A.S.K.Nagar Phase -II: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanapuram

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 that covers Narayanapuram is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Karunagaracheri, the guideline value plays a crucial role in determining the registration fees and stamp duty. The buyer must pay the stamp duty based on the higher amount between the guideline value and the sale price, ensuring that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Narayanapuram?

The current guideline value of Narayanapuram is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023 and 2024.

What are the other streets in Karunagaracheri with their guideline values?

Other streets in Karunagaracheri include Manthillaiyamman Koil Street at Rs 100 per sq.ft, and several others at Rs 200 per sq.ft, including Perumal Koil Street, Sasthapuri, Sree Karunambigai Nagar, Azhagar City, and A.S.K.Nagar Phase -II.

How is stamp duty calculated for property in Narayanapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total stamp duty would be Rs 14,000.

Where can I find the Sub Registrar Office for Narayanapuram?

The Sub Registrar Office for Narayanapuram is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the official website.