Guideline Value for Narayanasamy Street

Narayanasamy Street guideline value

The current guideline value of Narayanasamy Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Narayanasamy Street has changed

In the 2012 revision, the guideline value was Rs 3,300 per sq.ft. This figure remained the same in the 2012 and 2017 revisions, where it dropped to Rs 2,211 per sq.ft. The 2023 revision saw a significant increase to Rs 3,300 per sq.ft, followed by the current 2024 revision, which has further increased it to Rs 3,600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ambattur

Ambattur village has a total of 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, which matches the current guideline value for Narayanasamy Street.

• Nathela sampath chetty Street: Rs 4,000 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nainiammal Street: Rs 4,600 per sq.ft (2024)
• Nainiammal lane: Rs 4,600 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanasamy Street

For a 1,000 sq.ft plot at the current rate of Rs 3,600 per sq.ft, the guideline value amounts to Rs 36,00,000. The stamp duty at 7% would be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, totaling Rs 3,24,000. 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 Street?

The Sub Registrar Office that covers Narayanasamy Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Narayanasamy Street?

The current guideline value of Narayanasamy Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,600 per sq.ft in 2024.

What are the other streets in Ambattur with their guideline values?

Other streets in Ambattur include Nathela sampath chetty Street at Rs 4,000 per sq.ft, Nehru Nagar 1st Street at Rs 2,200 per sq.ft, and Nainiammal Street at Rs 4,600 per sq.ft, among others.

What is the stamp duty for properties in Narayanasamy Street?

The stamp duty for properties in Narayanasamy Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000.

Which office handles the registration for Narayanasamy Street?

The Ambattur Sub Registrar Office handles the registration for Narayanasamy Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.