Guideline Value for SRI NARAYANA NAGAR

Sri Narayana Nagar guideline value

The current guideline value of Sri Narayana Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Sri Narayana Nagar has changed

The guideline value of Sri Narayana Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 173 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2007. The 2012 revision saw a further rise to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the latest revision in 2024 set the value at Rs 2,800 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2024, the overall change in the guideline value is an increase of 1,518%. The changes between the revisions include a 189% increase from 2003 to 2007, a 400% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 12% increase from 2023 to 2024.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making the guideline value of Sri Narayana Nagar above this median.

• Sri Krishna Koil Road: Rs 2,200 per sq.ft (2024)
• SRI SAI BABA KOIL 1st CROSS STREET: Rs 3,300 per sq.ft (2024)
• Sri Sai Baba Koil Street: Rs 3,300 per sq.ft (2024)
• Sri Babuji Nagar: Rs 3,900 per sq.ft (2024)
• Spring Dale Road & Swastik Avenue: Rs 3,900 per sq.ft (2024)
• St.Joseph Beach Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Narayana Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Narayana Nagar?

The Sub Registrar Office that covers Sri Narayana Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value for properties in the area.

When a property is sold, the guideline value helps determine the official value of the transaction, which is used to compute the applicable taxes and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Narayana Nagar?

The current guideline value of Sri Narayana Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 173 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 1,518% over this period.

What is the land classification of Sri Narayana Nagar?

Sri Narayana Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What is the median guideline value for streets in Enjambakkam?

The median guideline value for streets in Enjambakkam is Rs 2,200 per sq.ft, with Sri Narayana Nagar's guideline value being above this median.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.