Guideline Value for Sri Narayana Nagar

Sri Narayana Nagar guideline value

The current guideline value of Sri Narayana Nagar, located in Keezhavedu village under the Chengleput Joint I SRO, is Rs 750 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Sri Narayana Nagar has changed

The guideline value for Sri Narayana Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft, marking a decrease of 33%. The value then increased significantly by 49% to Rs 750 per sq.ft in the 2023 revision, and it has remained at this rate through the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 750 per sq.ft.

Guideline values in Keezhavedu

Keezhavedu village has 11 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 415 to Rs 1,500 per sq.ft. The median value among these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Sri Narayana Nagar.

• Sai Thirumala nagar: Rs 500 per sq.ft (2024)
• Rajammal Nagar: Rs 635 per sq.ft (2024)
• Om Sakthi Nagar: Rs 620 per sq.ft (2024)
• Jayaram Nagar Part-I: Rs 750 per sq.ft (2024)
• Jayaram Nagar: Rs 635 per sq.ft (2024)
• Golden heaven Phase II: Rs 800 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 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, while the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Chengleput Joint I 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 Keezhavedu

The guideline value plays a crucial role during the registration of property transactions in Keezhavedu. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling a property, the guideline value is used to determine the minimum value at which the property can be registered. This helps maintain transparency and standardization 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 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft since 2012, with a decrease to Rs 502 per sq.ft in 2017, followed by an increase back to Rs 750 per sq.ft in 2023 and 2024.

What is the land classification of Sri Narayana Nagar?

The land classification for Sri Narayana Nagar is Mixed Type - II, indicating a blend of residential and commercial uses.

What are the stamp duty and registration fees for properties in Sri Narayana Nagar?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

Where can I find the Sub Registrar Office for Sri Narayana Nagar?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Sri Narayana Nagar.