Guideline Value for NAVARATHINA GARDEN 2ND STREET

Navarathina Garden 2nd Street guideline value

The current guideline value of Navarathina Garden 2nd Street is Rs 6,610 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Navarathina Garden 2nd Street has changed

The guideline value for Navarathina Garden 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 400 per sq.ft. In 2003, it increased to Rs 461 per sq.ft, marking a 15% rise. The value then surged significantly to Rs 1,000 per sq.ft in 2007, reflecting a 117% increase. Following this, the 2012 revision saw the value rise to Rs 6,000 per sq.ft, a substantial 500% increase from the previous figure. However, between 2012 and 2017, the value dropped to Rs 4,020 per sq.ft, a decrease of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 6,610 per sq.ft, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1553%. Notably, there are no figures available for the years not mentioned in the register for this street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, placing Navarathina Garden 2nd Street's 2024 figure above this median.

• Navarathina Garden 1st Street: Rs 6,610 per sq.ft (2024)
• Navarathina Garden 3rd Street: Rs 6,610 per sq.ft (2024)
• Navarathina Garden 4th Street: Rs 6,610 per sq.ft (2024)
• Navarathna Garden: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 1st Cross St: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 1st Main Road: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Navarathina Garden 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value would be Rs 66,10,000. The stamp duty at 7% would be Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, together amounting to Rs 5,94,900. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navarathina Garden 2nd Street?

The Sub Registrar Office that covers Navarathina Garden 2nd 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 for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Navarathina Garden 2nd Street?

The current guideline value of Navarathina Garden 2nd Street is Rs 6,610 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, reflecting an overall increase of 1553% over this period.

What is the land classification for Navarathina Garden 2nd Street?

The land classification for Navarathina Garden 2nd Street is Commercial Class I Type - II.

What are the stamp duty rates for property in this area?

The stamp duty rate for properties in Navarathina Garden 2nd Street is 7%, with a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Navarathina Garden 2nd 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.