Guideline Value for Narayanasamy Garden Salai

Narayanasamy Garden Salai guideline value

The current guideline value of Narayanasamy Garden Salai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanasamy Garden Salai has changed

The guideline value for Narayanasamy Garden Salai has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking an 8% rise. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by 61%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value for Narayanasamy Garden Salai.

• Narayanasamy Thottam 1st Main Road: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 1st Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Main Road: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Narasimma Reddiyar nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Garden Salai

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the 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 Salai?

The Sub Registrar Office that covers Narayanasamy Garden Salai 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 Kodungaiyur

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, reflecting the prevailing rates in the area. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Narayanasamy Garden Salai?

The current guideline value of Narayanasamy Garden Salai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, marking a total increase of 61% over this period.

What is the stamp duty rate for property in Narayanasamy Garden Salai?

The stamp duty rate for property in Narayanasamy Garden Salai is 7% of the guideline value or the 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.

What is the median guideline value for streets in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is the same as the current value for Narayanasamy Garden Salai.