Guideline Value for Narayanapuram

Narayanapuram guideline value

The current guideline value for Narayanapuram, located in Madipakkam-1 village under the Velacheri SRO, is Rs 3,850 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Narayanapuram has changed

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

Since there are no previous figures recorded for this street, there have been no changes in the guideline value between revisions. The current rate reflects the first recorded value for Narayanapuram.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Narayanapuram's 2024 figure above this median.

• Narayanapuram/Kubera Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Narayanapuram, Ram Nagar South: Rs 2,750 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to 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, leading to a total cost of Rs 3,46,500. 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?

The Sub Registrar Office that covers Narayanapuram is 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Narayanapuram?

The current guideline value of Narayanapuram is Rs 3,850 per sq.ft, effective from 1 July 2024.

Have there been any changes in the guideline value for Narayanapuram?

There have been no changes in the guideline value for Narayanapuram as the register shows no figures for previous years, with the current figure being the first recorded.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, and Narayanapuram's guideline value is above this median.

What is the stamp duty rate applicable in Narayanapuram?

The stamp duty rate applicable in Narayanapuram is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Narayanapuram located?

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