Guideline Value for Narayanasamy Garden 5th Street

Narayanasamy Garden 5th Street guideline value

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

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

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

It is important to note that there are no figures available for the revisions in 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 village, 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 a median value of Rs 2,200 per sq.ft. Narayanasamy Garden 5th Street's 2024 figure aligns with this median.

• Narayanasamy Garden 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 4th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 7th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Garden 5th Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Narayanasamy Garden 5th Street?

The Narayanasamy Garden 5th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable duties. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Narayanasamy Garden 5th 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 Street?

Narayanasamy Garden 5th Street is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Selavoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.