Guideline Value for SRI NARASIMMA NAGAR

Sri Narasimma Nagar guideline value

The current guideline value of Sri Narasimma Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is situated in Agaramthen village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Sri Narasimma Nagar has changed

The guideline value for Sri Narasimma Nagar has seen a revision from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. Prior to this, the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In the 2024 revision, the guideline value stands at Rs 3,300 per sq.ft, which reflects the latest assessment. The previous figure in 2023 was Rs 3,000 per sq.ft, indicating a positive adjustment in the valuation of this street.

Guideline values in Agaramthen

Agaramthen village comprises 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value in this area is Rs 830 per sq.ft, placing Sri Narasimma Nagar's 2024 figure above this median.

• Sri Kannan Avenue: Rs 1,320 per sq.ft (2024)
• Sri Brahma Sakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Venugopal Nagar: Rs 990 per sq.ft (2024)
• Subiksham Avenue: Rs 3,300 per sq.ft (2024)
• School Street: Rs 990 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Narasimma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Narasimma Nagar?

Sri Narasimma Nagar 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 Agaramthen

The guideline value plays a crucial role in the registration process when buying or selling property in Agaramthen. It determines the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Narasimma Nagar?

The current guideline value of Sri Narasimma Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the median guideline value in Agaramthen?

The median guideline value in Agaramthen is Rs 830 per sq.ft. Sri Narasimma Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

What are the stamp duty and registration fees for property in Sri Narasimma Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the higher of the guideline value and the sale price.

Which office handles the registration for Sri Narasimma Nagar?

The registration for Sri Narasimma Nagar is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.