Guideline Value for Narayanasamy Garden 5th Cross Street

Narayanasamy Garden 5th Cross Street guideline value

The current guideline value of Narayanasamy Garden 5th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Narayanasamy Garden 5th Cross Street has changed

The guideline value for Narayanasamy Garden 5th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 1,340 per sq.ft in 2017, a decrease of 26%. However, from 2017 to 2023, the value rose significantly to Rs 2,000 per sq.ft, marking a 49% increase. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. 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 carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with the median being Rs 2,200 per sq.ft. Narayanasamy Garden 5th Cross Street's 2024 figure is equal to this median.

• Narayanasamy Garden 4th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 5th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 3rd Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Garden 5th 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 to Rs 1,98,000. Please note that 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 details.

Which Sub Registrar Office covers Narayanasamy Garden 5th Cross Street?

The Sub Registrar Office that covers Narayanasamy Garden 5th Cross Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selavoyal. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware of the guideline value to ensure compliance with registration norms.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions, reflecting the current market conditions as per the established guideline values.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden 5th Cross Street?

The current guideline value of Narayanasamy Garden 5th 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 5th Cross Street?

The land classification for Narayanasamy Garden 5th Cross Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties 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 this street?

The Sub Registrar Office covering Narayanasamy Garden 5th Cross Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.