Guideline Value for Thiru Narayana Avenue

Thiru Narayana Avenue guideline value

The current guideline value of Thiru Narayana Avenue is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO and is classified as Residential Class I Type - III.

How the guideline value of Thiru Narayana Avenue has changed

The guideline value for Thiru Narayana Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,026 per sq.ft. This increased to Rs 1,131 per sq.ft in 2003, marking a 10% rise. The value then jumped significantly to Rs 2,000 per sq.ft in 2007, reflecting a 77% increase. In 2012, the value was recorded at Rs 7,600 per sq.ft, which was a substantial increase of 280% compared to the previous revision. However, in 2017, the value decreased to Rs 5,092 per sq.ft, showing a decline of 33%.

From 2017, the guideline value rose to Rs 7,600 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 8,300 per sq.ft, a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 709%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Thiru Narayana Avenue's 2024 figure above this median.

• Thiru Sadaiyamman Koil street: Rs 3,900 per sq.ft (2024)
• Thiruveedhi amman koil street: Rs 4,900 per sq.ft (2024)
• Thiruvengadam Lane: Rs 4,400 per sq.ft (2024)
• Thiruvengadam street: Rs 7,100 per sq.ft (2024)
• Thiyagappa Mudali 1st lane: Rs 7,100 per sq.ft (2024)
• Thiyagappa Mudali 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru Narayana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total amount for these fees to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiru Narayana Avenue?

The Sub Registrar Office that covers Thiru Narayana Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Egmore. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Accurate assessment of the guideline value helps in understanding the financial implications involved in property dealings.

Frequently asked questions

What is the current guideline value of Thiru Narayana Avenue?

The current guideline value of Thiru Narayana Avenue is Rs 8,300 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 1,026 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 709% over the years.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Which office handles property registrations for Thiru Narayana Avenue?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles property registrations for Thiru Narayana Avenue.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to know this value to understand the costs involved in the transaction.