Guideline Value for Narmatha Street

Narmatha Street guideline value

The current guideline value of Narmatha Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Narmatha Street has changed

The guideline value for Narmatha Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 650 per sq.ft. It increased significantly to Rs 2,000 per sq.ft in 2012, marking a 208% rise. However, the value decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The next revision in 2023 brought the value back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 238%. It is important to note that there are no recorded figures for Narmatha Street in the years 2002 and 2003.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Narmatha Street.

• Navalor Street: Rs 1,100 per sq.ft (2024)
• Nalvar Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Muthamil Street: Rs 2,530 per sq.ft (2024)
• Murugesan Street: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 1-st St: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Narmatha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these charges Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Narmatha Street?

Narmatha Street is covered by 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 Irumpuliyur

The guideline value is a crucial factor in property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the current guideline value to avoid any unexpected costs. Buyers should ensure that the sale price aligns with the guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Narmatha Street?

The current guideline value of Narmatha 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 from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What are the stamp duty and registration fees for properties on Narmatha Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total charges amount to Rs 1,98,000.

Which Sub Registrar Office covers Narmatha Street?

The Tambaram Joint 1 Sub Registrar Office covers Narmatha Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Narmatha Street?

Narmatha Street is classified as Residential Special Type - II, which is relevant for property transactions and development regulations.