Guideline Value for Narmadha Street

Narmadha Street guideline value

The current guideline value of Narmadha Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Narmadha Street has changed

Looking at the revisions, the guideline value for Narmadha Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in 2024, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, showing a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, which decreased by -33% to the 2017 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by +10%, reflecting the changes in the market over the years. The fluctuations in the guideline value are important for understanding the property landscape in this area.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 guideline value of Narmadha Street.

• Natarajan Street: Rs 3,300 per sq.ft (2024)
• Narasimhan Street: Rs 1,650 per sq.ft (2024)
• Narashima Pallavan Street: Rs 2,750 per sq.ft (2024)
• Nakkiran Street: Rs 1,100 per sq.ft (2024)
• Najeeb Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 3rd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Narmadha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Narmadha Street?

The Sub Registrar Office that covers Narmadha Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of property transactions. Proper understanding of these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Narmadha Street?

The current guideline value of Narmadha Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a +10% increase. The value was Rs 1,005 per sq.ft in 2017, which increased by +49% to the 2023 figure.

What is the land classification for Narmadha Street?

Narmadha Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Narmadha Street?

The Sub Registrar Office for Narmadha Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties on Narmadha Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.