Guideline Value for Narayanee Amman Koil Street

Narayanee Amman Koil Street guideline value

The current guideline value of Narayanee Amman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Narayanee Amman Koil Street has changed

The guideline value for Narayanee Amman Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 284 per sq.ft. This increased to Rs 313 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 400 per sq.ft, reflecting a 28% increase. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a significant 400% increase from the previous figure. However, in 2017, the value decreased to Rs 1,340 per sq.ft, showing a decline of 33%.

In 2023, the guideline value rose again to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 675%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value for Narayanee Amman Koil Street.

• Nerkundram Road: Rs 3,350 per sq.ft (2024)
• Nerkundram Road Murthy Nagar: Rs 3,850 per sq.ft (2024)
• Nerkundram Scheme(Tnhb): Rs 6,600 per sq.ft (2024)
• NESAMMAL NAGAR 1st Street: Rs 2,200 per sq.ft (2024)
• NESAMMAL NAGAR 2nd Street: Rs 2,200 per sq.ft (2024)
• NESAMMAL NAGAR Annexe: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Narayanee Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narayanee Amman Koil Street?

The Sub Registrar Office covering Narayanee Amman Koil Street 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. 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 is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Narayanee Amman Koil Street?

The current guideline value of Narayanee Amman Koil 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 significantly from Rs 284 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 675% over the years.

What is the land classification for Narayanee Amman Koil Street?

The land classification for Narayanee Amman Koil Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, with a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Narayanee Amman Koil Street?

The Virugambakkam Sub Registrar Office handles property registration for Narayanee Amman Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.