Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Navaloor village is Rs 610 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in 2017. Following this, the value increased to Rs 600 per sq.ft in 2023 and further to Rs 610 per sq.ft in 2024, marking a 2% rise from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, the guideline value from 2012 to 2024 has increased by 2%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,100 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Main Road's 2024 figure above this median.

• Kishta Baghavan Street: Rs 200 per sq.ft (2024)
• Kamaraj Nagar Extn: Rs 300 per sq.ft (2024)
• Kamaraj Nagar: Rs 300 per sq.ft (2024)
• Jeyam Nagar: Rs 200 per sq.ft (2024)
• Jaisakthi Nagar: Rs 300 per sq.ft (2024)
• Dr.Chandra City: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current rate of Rs 610 per sq.ft, the guideline value amounts to Rs 6,10,000. The stamp duty at 7% would be Rs 42,700, and the registration fee at 2% would be Rs 12,200, totaling Rs 54,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Main Road?

The Sub Registrar Office that covers Main Road is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Navaloor. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value can influence the overall costs associated with property registration.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Main Road?

The current guideline value of Main Road in Navaloor village is Rs 610 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 610 per sq.ft in 2024.

What is the land classification for Main Road?

Main Road is classified as Residential Special Type - I under the Sriperumpudur SRO.

Where can I find the Sub Registrar Office for Main Road?

The Sub Registrar Office covering Main Road is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Main Road, the guideline value is Rs 610 per sq.ft, which will be used to determine the stamp duty and registration fees.