Guideline Value for NAVASAKTHI NAGAR PHASE I EXTENTION

Navasakthi Nagar Phase I Extention guideline value

The current guideline value of Navasakthi Nagar Phase I Extention is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mepur village and falls under the Kunrathur SRO. The land classification for this property is Residential Class I Type - I.

How the guideline value of Navasakthi Nagar Phase I Extention has changed

The guideline value for Navasakthi Nagar Phase I Extention has seen several revisions over the years. The earliest recorded figure is from 2017, where it was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Mepur

In Mepur, there are 22 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,955 per sq.ft. The median value is Rs 770 per sq.ft, which is equal to the current guideline value of Navasakthi Nagar Phase I Extention. Below are the guideline values for other streets in Mepur:

• Navasakthi Nagar: Rs 770 per sq.ft (2024)
• M R Manickam Nagar: Rs 660 per sq.ft (2024)
• Mayavan Nagar: Rs 770 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)
• Road Street: Rs 770 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)

Stamp duty and registration fee for property in Navasakthi Nagar Phase I Extention

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navasakthi Nagar Phase I Extention?

The Sub Registrar Office that covers Navasakthi Nagar Phase I Extention is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Mepur, as it determines the minimum price at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during property transactions. This value is updated periodically, reflecting changes in the real estate market.

Frequently asked questions

What is the current guideline value of Navasakthi Nagar Phase I Extention?

The current guideline value of Navasakthi Nagar Phase I Extention is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 770 per sq.ft in 2024, marking a total increase of 64% over this period.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office handles transactions for Navasakthi Nagar Phase I Extention?

The Kunrathur Sub Registrar Office handles transactions for Navasakthi Nagar Phase I Extention, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Where can I find more information about guideline values in Mepur?

More information about guideline values in Mepur can be found in the registration department's guideline value register, which details the values for various streets in the area.