Guideline Value for NAVARATHINA AVENUE

Navarathina Avenue guideline value

The current guideline value of Navarathina Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Navarathina Avenue has changed

The guideline value for Navarathina Avenue has seen several revisions over the years. In 2012, the guideline value was set at Rs 10,000 per sq.ft. This figure decreased to Rs 6,700 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 10,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 11,000 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing Navarathina Avenue's 2024 figure above that median.

• Navalar Nedunchezhian Road: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 2nd Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony 1st Street: Rs 11,000 per sq.ft (2024)
• Navabharath Colony: Rs 11,000 per sq.ft (2024)
• Natesan Street: Rs 7,150 per sq.ft (2024)
• Nethaji Nagar North Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Navarathina Avenue

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 amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees together to 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 detailed calculations.

Which Sub Registrar Office covers Navarathina Avenue?

The Sub Registrar Office that covers Navarathina Avenue 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Navarathina Avenue?

The current guideline value of Navarathina Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 10,000 per sq.ft in 2023 to Rs 11,000 per sq.ft in 2024, a rise of 10%. The value has also seen fluctuations from Rs 10,000 in 2012 to Rs 6,700 in 2017, before rising back to Rs 10,000 in 2023.

What is the land classification for Navarathina Avenue?

The land classification for Navarathina Avenue is Residential Special Type - II, indicating its suitability for residential developments.

Where can I find the Sub Registrar Office for Navarathina Avenue?

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

How is stamp duty calculated for properties in Navarathina Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 1,10,00,000, the stamp duty at 7% would be Rs 7,70,000.