Guideline Value for NAVABHARATH COLONY 2ND STREET

Navabharath Colony 2nd Street guideline value

The current guideline value of Navabharath Colony 2nd Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Navabharath Colony 2nd Street has changed

The guideline value for Navabharath Colony 2nd Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 11,000 per sq.ft, which is an increase from Rs 10,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 6,700 per sq.ft in 2017, reflecting a significant increase of +49% over the six-year span. The 2012 revision also recorded a value of Rs 10,000 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

The register does not have figures for the years 2002, 2003, and 2007 for this street. Therefore, the last recorded values before 2012 were not available.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Navabharath Colony 2nd Street's 2024 figure above the median.

• Navabharath Colony 1st Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony: Rs 11,000 per sq.ft (2024)
• Navalar Nedunchezhian Road: Rs 11,000 per sq.ft (2024)
• Natesan Street: Rs 7,150 per sq.ft (2024)
• Navarathina Avenue: Rs 11,000 per sq.ft (2024)
• Nethaji Nagar North Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Navabharath Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Navabharath Colony 2nd Street?

The Sub Registrar Office that covers Navabharath Colony 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is the basis for these fees, ensuring that the correct amounts are calculated during the registration process.

When registering a property, it is essential to note that the guideline value is compared to the sale price; the higher of the two will be used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Navabharath Colony 2nd Street?

The current guideline value of Navabharath Colony 2nd Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2023 to Rs 11,000 per sq.ft in 2024. It was Rs 6,700 per sq.ft in 2017 and Rs 10,000 per sq.ft in 2012.

What is the land classification for Navabharath Colony 2nd Street?

The land classification for Navabharath Colony 2nd Street is Residential Special Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles registrations for Navabharath Colony 2nd Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Navabharath Colony 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.