Guideline Value for NAVALAR STREET

Navalar Street guideline value

The current guideline value of Navalar Street in Vengathur village, under the Manavalanagar SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Navalar Street has changed

The guideline value for Navalar Street has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a substantial rise of 767%. However, from 2012 to 2017, the value decreased by 33% to Rs 871 per sq.ft. The value then increased by 49% to Rs 1,300 per sq.ft in 2023, and it remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Navalar Street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Navalar Street's 2024 figure above this median.

• Navaneetham Nagar: Rs 700 per sq.ft (2024)
• Nedhaji Street: Rs 700 per sq.ft (2024)
• Nehru Street: Rs 700 per sq.ft (2024)
• NEHRU STREET 1st GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 2nd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 3rd GURUKU STREET: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Navalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please 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 details.

Which Sub Registrar Office covers Navalar Street?

The Sub Registrar Office that covers Navalar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vengathur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the official valuation.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Proper understanding of this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Navalar Street?

The current guideline value of Navalar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and increased back to Rs 1,300 per sq.ft in 2023 and 2024.

What is the land classification for Navalar Street?

Navalar Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

Where can I find the registration office for Navalar Street?

The registration office for Navalar Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which affects the stamp duty and registration fees during property transactions. Buyers and sellers must consider this value to understand the costs involved in the buying or selling process.