Guideline Value for Narayanasamy Salai

Narayanasamy Salai guideline value

The current guideline value of Narayanasamy Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Narayanasamy Salai has changed

The guideline value for Narayanasamy Salai has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the value rebounded significantly in the 2024 revision, reaching Rs 3,300 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, and 2023.

From 2012 to 2017, the guideline value decreased by 33%. In contrast, from 2017 to 2024, it increased by 64%. Overall, when comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Narayanasamy Salai's 2024 figure below that median.

• Narayani Apartments (Velan Nagar): Rs 2,750 per sq.ft (2024)
• Nedumaran Street: Rs 4,400 per sq.ft (2024)
• Nagireddy Street Cross Street: Rs 4,400 per sq.ft (2024)
• Nagireddy Street: Rs 4,400 per sq.ft (2024)
• Nageeran Street: Rs 4,950 per sq.ft (2024)
• Nagarathinammal Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Salai

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Salai?

The Sub Registrar Office that covers Narayanasamy Salai is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Valasaravakkam

The guideline value is a crucial factor in the registration process for property transactions in Valasaravakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

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

Frequently asked questions

What is the current guideline value of Narayanasamy Salai?

The current guideline value of Narayanasamy Salai is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Narayanasamy Salai?

The land classification for Narayanasamy Salai is Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Narayanasamy Salai?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registration for Narayanasamy Salai?

The Virugambakkam Sub Registrar Office handles property registration for Narayanasamy Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.