Guideline Value for Narikuravar Street

Narikuravar Street guideline value

The current guideline value of Narikuravar Street in Madambakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Narikuravar Street has changed

The guideline value for Narikuravar Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,000 per sq.ft. In the 2024 revision, the value increased to Rs 1,100 per sq.ft, representing a change of +10% from the 2012 figure. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the guideline value for Narikuravar Street has seen an increase from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024. This reflects a steady rise in the guideline value over the years, despite the absence of figures in the earlier revisions.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that Narikuravar Street's 2024 figure is below this median.

• Narikuravar 2nd Street: Rs 1,100 per sq.ft (2024)
• Narikuravar 1st Street: Rs 1,100 per sq.ft (2024)
• Narikkuravar Colony 2nd Street: Rs 1,100 per sq.ft (2024)
• Narikkuravar Colony 1st Street: Rs 1,100 per sq.ft (2024)
• Narikkuravar Colony: Rs 1,100 per sq.ft (2024)
• Nehru Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Narikuravar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narikuravar Street?

The Sub Registrar Office that covers Narikuravar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Narikuravar Street?

The current guideline value of Narikuravar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,000 per sq.ft in 2012 to Rs 1,100 per sq.ft in 2024, representing a +10% change. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, indicating that Narikuravar Street's current value is below this median.

What is the stamp duty rate for properties in Narikuravar Street?

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

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.