Guideline Value for NAVANEETHAM NAGAR

Navaneetham Nagar guideline value

The current guideline value of Navaneetham Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Navaneetham Nagar has changed

The guideline value of Navaneetham Nagar has undergone several revisions over the years. In 2007, the value was Rs 125 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 460% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 469 per sq.ft. The value then rose again to Rs 700 per sq.ft in 2023, and it remained unchanged at Rs 700 per sq.ft in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 460%.

Guideline values in Vengathur

In Vengathur village, 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, with a median value of Rs 1,000 per sq.ft. The guideline value of Navaneetham Nagar is below this median.

• Navalar Street: Rs 1,300 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 Navaneetham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navaneetham Nagar?

The Sub Registrar Office that covers Navaneetham Nagar is the Manavalanagar Sub Registrar Office. Its address is 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 the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. 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 Navaneetham Nagar?

The current guideline value of Navaneetham Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and returning to Rs 700 per sq.ft in 2023 and 2024.

What are the guideline values for other streets in Vengathur?

Other streets in Vengathur have varying guideline values. For instance, Navalar Street is valued at Rs 1,300 per sq.ft, while Nedhaji Street and Nehru Street are both at Rs 700 per sq.ft in 2024.

What is the stamp duty for property in Navaneetham Nagar?

The stamp duty for property in Navaneetham Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000.

Which office do I need to visit for registration in Navaneetham Nagar?

The registration for properties in Navaneetham Nagar is handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.