Guideline Value for NAVABHARATH COLONY

Navabharath Colony guideline value

The current guideline value of Navabharath Colony, located in Thiruvanmiyur village, is Rs 11,000 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Navabharath Colony has changed

The guideline value for Navabharath Colony has undergone several revisions over the years. Starting from Rs 1,719 per sq.ft in 2002, it increased to Rs 1,902 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 2,200 per sq.ft in 2007, reflecting a 16% increase. Following this, there was a significant jump to Rs 10,000 per sq.ft in 2012, which was a 355% increase. However, the value decreased to Rs 6,700 per sq.ft in 2017, representing a 33% decline. The next revision in 2023 saw the guideline value increase to Rs 10,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 11,000 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 540%. The register has no figures for the years not mentioned in this summary.

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 is Rs 9,900 per sq.ft, placing Navabharath Colony's 2024 figure above this median.

• Navabharath Colony 1st Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 2nd Street: 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

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 be Rs 7,70,000, and the registration fee at 2% would amount to Rs 2,20,000, totaling 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Navabharath Colony?

The Sub Registrar Office that covers Navabharath Colony 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Navabharath Colony?

The current guideline value of Navabharath Colony is Rs 11,000 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,719 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 540% over the years.

What is the land classification for Navabharath Colony?

Navabharath Colony is classified as Residential Special Type - II under the Chennai South Joint I SRO.

Where can I find the Sub Registrar Office for Navabharath Colony?

The Sub Registrar Office for Navabharath Colony is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Navabharath Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be calculated at 7% of this amount.