Guideline Value for Narayanasamy Garden 7th Street

Narayanasamy Garden 7th Street guideline value

The current guideline value of Narayanasamy Garden 7th 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 7th Street has changed

The guideline value for Narayanasamy Garden 7th Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 is Rs 2,200 per sq.ft, placing Narayanasamy Garden 7th Street at this median value.

• Narayanasamy Garden 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 8th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 9th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th 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 7th 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narayanasamy Garden 7th Street?

The Narayanasamy Garden 7th Street falls under 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 an important factor during the registration of property transactions in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both parties must consider the guideline value to understand the financial implications of the transaction. It serves as a benchmark for assessing the value of the property and calculating the associated costs.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden 7th Street?

The current guideline value of Narayanasamy Garden 7th 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 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then 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 7th Street?

Narayanasamy Garden 7th Street is classified as Residential Class II Type - I.

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

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