Guideline Value for Narivanam Salai

Narivanam Salai guideline value

The current guideline value of Narivanam Salai is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Narivanam Salai has changed

The guideline value for Narivanam Salai has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,273 per sq.ft, which increased significantly to Rs 1,900 per sq.ft in the 2023 revision. The most recent revision in 2024 has set the value at Rs 2,090 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Narivanam Salai's 2024 figure above that median.

• Muthusamy Nagar: Rs 2,090 per sq.ft (2024)
• Muthusamy Avenue Annexe: Rs 2,200 per sq.ft (2024)
• Murugan Nagar: Rs 2,090 per sq.ft (2024)
• Murugan Ambal Nagar: Rs 1,980 per sq.ft (2024)
• Nooruthin Nagar: Rs 2,090 per sq.ft (2024)
• Oa Dheen Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Narivanam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value amounts to Rs 20,90,000. The stamp duty at 7% would be Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Narivanam Salai?

The Sub Registrar Office that covers Narivanam Salai is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value plays a crucial role during the registration process when buying or selling property in Mangadu -A. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties comply with the legal requirements.

When a property is sold, the guideline value is referenced to assess the appropriate fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Narivanam Salai?

The current guideline value of Narivanam Salai is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,273 per sq.ft in 2017 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the land classification of Narivanam Salai?

Narivanam Salai is classified as Residential Special Type - II under the Kunrathur SRO.

What are the stamp duty rates applicable in Narivanam Salai?

The stamp duty rate applicable in Narivanam Salai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Narivanam Salai?

The Sub Registrar Office for Narivanam Salai is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.