Guideline Value for Narayanasamy Garden 4th Cross Street

Narayanasamy Garden 4th Cross Street guideline value

The current guideline value of Narayanasamy Garden 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Narayanasamy Garden 4th Cross Street has changed

The guideline value for Narayanasamy Garden 4th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 1,800 per sq.ft. This value changed to Rs 1,340 per sq.ft in 2017, which was a decrease of 26%. However, from 2017 to 2023, the guideline value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Narayanasamy Garden 4th Cross Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 22%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with the median value being Rs 2,200 per sq.ft. Narayanasamy Garden 4th Cross Street's 2024 guideline value aligns with this median.

• Narayanasamy Garden 3rd Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 4th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 3rd Main Road: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 5th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Garden 4th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Narayanasamy Garden 4th Cross Street?

The Sub Registrar Office that covers Narayanasamy Garden 4th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions within Selavoyal, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions and helps maintain transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden 4th Cross Street?

The current guideline value of Narayanasamy Garden 4th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Narayanasamy Garden 4th Cross Street?

Narayanasamy Garden 4th Cross Street falls under the Residential Class II Type - I land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Narayanasamy Garden 4th Cross Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Narayanasamy Garden 4th Cross Street.