Guideline Value for Narayanasamy Garden 6th Cross Street

Narayanasamy Garden 6th Cross Street guideline value

The current guideline value of Narayanasamy Garden 6th 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, classified as Residential Class II Type - I.

How the guideline value of Narayanasamy Garden 6th Cross Street has changed

The guideline value for Narayanasamy Garden 6th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. This was a decline of 26%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register 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. The median value for these streets is Rs 2,200 per sq.ft, which matches the current guideline value for Narayanasamy Garden 6th Cross Street.

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

Stamp duty and registration fee for property in Narayanasamy Garden 6th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, 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 duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanasamy Garden 6th Cross Street?

The Sub Registrar Office covering Narayanasamy Garden 6th 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

When buying or selling property in Selavoyal, the guideline value is used as a reference for determining the stamp duty and registration fees. This value is set by the government and is updated periodically to reflect changes in the real estate market.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Narayanasamy Garden 6th Cross Street?

The current guideline value for Narayanasamy Garden 6th 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 6th Cross Street?

Narayanasamy Garden 6th Cross Street is classified as Residential Class II Type - I.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

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