Guideline Value for SRI NARSIMMAN NAGAR

Sri Narsimman Nagar guideline value

The current guideline value of Sri Narsimman Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Narsimman Nagar has changed

In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This remained unchanged in the subsequent revisions of 2017 and 2023, where the value was also Rs 600 per sq.ft. However, the 2017 revision saw an increase of 49% from the previous value of Rs 402 per sq.ft in 2017. The 2024 revision maintains the value at Rs 600 per sq.ft, showing no change from the 2023 revision.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained the same, with an overall change of +0%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. The guideline value of Sri Narsimman Nagar is equal to this median.

• Srinivasa Palms @ S.P.Kovil: Rs 1,500 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)
• Sri Ganapathy Nagar Colony: Rs 600 per sq.ft (2024)
• Sri Dhivakar Nagar: Rs 600 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 600 per sq.ft (2024)
• Sree Selva Ganapathy Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Narsimman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Narsimman Nagar?

The Sub Registrar Office that covers Sri Narsimman Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kolathur

The guideline value is a critical factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the government records.

When you buy or sell property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Narsimman Nagar?

The current guideline value of Sri Narsimman Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a notable increase of 49% from Rs 402 per sq.ft in 2017, but it has not changed from 2023 to 2024.

What is the land classification of Sri Narsimman Nagar?

Sri Narsimman Nagar is classified as Residential Special Type - I, which indicates its suitability for residential purposes.

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

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which office handles property registrations in Sri Narsimman Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations in Sri Narsimman Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.