Guideline Value for Narayanasamy Garden 8th Street

Narayanasamy Garden 8th Street guideline value

The current guideline value of Narayanasamy Garden 8th 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Narayanasamy Garden 8th Street has changed

The guideline value for Narayanasamy Garden 8th 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, there was a significant increase to Rs 2,000 per sq.ft in 2023, and the current value for 2024 is Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. 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, with a median value of Rs 2,200 per sq.ft. Narayanasamy Garden 8th Street's 2024 guideline value is equal to this median.

• Narayanasamy Garden 7th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 9th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th 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 8th 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. 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 details.

Which Sub Registrar Office covers Narayanasamy Garden 8th Street?

The Sub Registrar Office that covers Narayanasamy Garden 8th 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 an essential factor when registering a property in Selavoyal. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling a property, the guideline value helps establish a fair price for the transaction. It is crucial for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden 8th Street?

The current guideline value of Narayanasamy Garden 8th 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 increased to Rs 2,000 per sq.ft in 2023, and is currently Rs 2,200 per sq.ft in 2024.

What is the land classification of Narayanasamy Garden 8th Street?

Narayanasamy Garden 8th Street falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for this area?

The Madhavaram Sub Registrar Office covers Narayanasamy Garden 8th Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Narayanasamy Garden 8th Street?

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