Guideline Value for Narayanasamy Garden 9th Street

Narayanasamy Garden 9th Street guideline value

The current guideline value of Narayanasamy Garden 9th 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 9th Street has changed

The guideline value for Narayanasamy Garden 9th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then 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 the most recent revision in 2024 has raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 11%, but from 2017 to 2023, the value rose by 49%. Overall, comparing the values from 2012 to 2024, there has been an increase of 47%. The register does not have 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 with 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, which is the same as the current guideline value for Narayanasamy Garden 9th Street.

• Narayanasamy Garden 8th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 7th 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 9th 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanasamy Garden 9th Street?

The Sub Registrar Office that covers Narayanasamy Garden 9th 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 when registering property transactions in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that they are informed about the latest revisions to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden 9th Street?

The current guideline value of Narayanasamy Garden 9th 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 seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then rising to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

What is the land classification for Narayanasamy Garden 9th Street?

Narayanasamy Garden 9th Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What is the stamp duty rate for properties in Narayanasamy Garden 9th Street?

The stamp duty rate for properties in Narayanasamy Garden 9th Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Narayanasamy Garden 9th Street?

The Madhavaram Sub Registrar Office handles property registrations for Narayanasamy Garden 9th Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.