Guideline Value for Sri Narayanan Nagar

Sri Narayanan Nagar guideline value

The current guideline value of Sri Narayanan Nagar is Rs 1,650 per sq.ft, effective from the 2024 revision. This area is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Narayanan Nagar has changed

Over the years, the guideline value for Sri Narayanan Nagar has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The subsequent revisions saw a rise, with the 2023 value at Rs 1,500 per sq.ft, and the current value for 2024 is Rs 1,650 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 10%. The overall increase from the 2007 revision to the 2024 revision is 230%, showcasing significant growth over the years.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Sri Narayanan Nagar aligns with this median.

• Sriram Nagar: Rs 1,320 per sq.ft (2024)
• Sri Elumalayan Nagar: Rs 1,650 per sq.ft (2024)
• Sri D.SaiBaba Avenue: Rs 1,430 per sq.ft (2024)
• Sri Sai Balaji Avenue: Rs 3,300 per sq.ft (2024)
• Sri Sai Garden: Rs 2,300 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Narayanan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Narayanan Nagar?

The Sub Registrar Office that covers Sri Narayanan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kovur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will require adherence to these guidelines.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is compliant with local regulations, and both parties are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Sri Narayanan Nagar?

The current guideline value of Sri Narayanan Nagar is Rs 1,650 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the registration office for Sri Narayanan Nagar?

The Kunrathur Sub Registrar Office covers Sri Narayanan Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri Narayanan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.

What are the guideline values for other streets in Kovur?

Other streets in Kovur have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft. For instance, Sriram Nagar has a guideline value of Rs 1,320 per sq.ft, while Sri Sai Balaji Avenue is at Rs 3,300 per sq.ft.