Guideline Value for NAVANITHA KRISHNAN STREET

Navanitha Krishnan Street guideline value

The current guideline value of Navanitha Krishnan Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thundalam village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - II.

How the guideline value of Navanitha Krishnan Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Subsequently, in the 2023 revision, the value increased to Rs 1,500 per sq.ft, before rising again to Rs 1,650 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Thundalam

In Thundalam, there are 97 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Navanitha Krishnan Street's 2024 figure below that median.

• Parasnath Nagar / Avenue: Rs 2,750 per sq.ft (2024)
• Maruth Nagar Phase - I Main Road: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar V.O.C. Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Vallalar Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Thilagar Street: Rs 2,750 per sq.ft (2024)
• Maruthi Nagar Rajendra Prasath Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Navanitha Krishnan Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Navanitha Krishnan Street?

The Sub Registrar Office that covers Navanitha Krishnan 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 online.

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

The guideline value plays a crucial role in property transactions in Thundalam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the buyer will need to pay stamp duty based on the guideline value or the sale price, whichever is higher. 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 Navanitha Krishnan Street?

The current guideline value of Navanitha Krishnan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would be Rs 1,48,500, which includes Rs 1,15,500 for stamp duty and Rs 33,000 for registration fees.

Which Sub Registrar Office is responsible for Navanitha Krishnan Street?

The Chennai South Joint I Sub Registrar Office is responsible for Navanitha Krishnan Street, located in Fanepet Nandanam, Chennai.

How is the guideline value determined for properties in Thundalam?

The guideline value for properties in Thundalam is determined by the Registration Department's guideline value register. It varies based on the street and is updated periodically to reflect market conditions.