Guideline Value for NAVANEETHAM NAGAR

Navaneetham Nagar guideline value

The current guideline value of Navaneetham Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Nanthiambakkam village and falls under the Thiruvottiyur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Navaneetham Nagar has changed

The guideline value for Navaneetham Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 30 per sq.ft, which increased to Rs 35 per sq.ft in 2003, marking a 17% rise. The value then saw a significant increase to Rs 50 per sq.ft in 2007, reflecting a 43% change. By 2012, the guideline value was Rs 300 per sq.ft, indicating a remarkable 500% increase from the previous revision. However, this value decreased to Rs 201 per sq.ft in 2017, showing a 33% drop. The guideline value rose again to Rs 300 per sq.ft in 2023, and currently stands at Rs 330 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1000%. There are no figures available for the revisions in years where no specific data is recorded for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Navaneetham Nagar is equal to this median.

• Nethaji Nagar: Rs 330 per sq.ft (2024)
• Nethaji Nagar All Phases/Parts: Rs 330 per sq.ft (2024)
• Nethiji Nagar Ext.: Rs 330 per sq.ft (2024)
• Nadhiya Nagar: Rs 330 per sq.ft (2024)
• Murugan Koil Street: Rs 330 per sq.ft (2024)
• M.J.Muthusubramani Nagar: Rs 627 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. 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 details.

Which Sub Registrar Office covers Navaneetham Nagar?

The Sub Registrar Office covering Navaneetham Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanthiambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Navaneetham Nagar?

The current guideline value of Navaneetham Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the land classification of Navaneetham Nagar?

Navaneetham Nagar is classified as Residential Special Type - II under the current land classification.

Where can I find the registration office for Navaneetham Nagar?

The registration office for Navaneetham Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Navaneetham Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at 7%.