Guideline Value for NAVASAKTHI NAGAR

Navasakthi Nagar guideline value

The current guideline value of Navasakthi Nagar is Rs 555 per sq.ft, effective from 1 July 2024. This street is located in Vellanoor-1 village under the Avadi SRO, classified as Residential Class I Type - I.

How the guideline value of Navasakthi Nagar has changed

The guideline value for Navasakthi Nagar has seen several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 500 per sq.ft, which increased by 11% to Rs 555 per sq.ft in the 2024 revision.

This increase reflects a change from the previous year, highlighting a notable adjustment in the guideline value. The 2024 figure aligns with the median guideline value of Rs 555 per sq.ft for the 34 streets in Vellanoor-1 under the Avadi SRO.

Guideline values in Vellanoor-1

In Vellanoor-1, the guideline values for various streets range from Rs 440 to Rs 1,980 per sq.ft, with the median being Rs 555 per sq.ft. Navasakthi Nagar's 2024 figure matches this median value.

• Navasakthi Nagar Annex: Rs 555 per sq.ft (2024)
• Lakshmi Nagar: Rs 555 per sq.ft (2024)
• Krishna Nagar: Rs 555 per sq.ft (2024)
• Ram Nagar: Rs 555 per sq.ft (2024)
• Kannappa Garden: Rs 550 per sq.ft (2024)
• Saraswathi Gopal Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Navasakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value would be Rs 5,55,000. The stamp duty at 7% would be Rs 38,850, and the registration fee at 2% would be Rs 11,100, bringing the total fees to Rs 49,950. 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 Navasakthi Nagar?

The Navasakthi Nagar area falls under the jurisdiction of the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value plays a critical role during property registration in Vellanoor-1. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction, ensuring that the government receives the correct revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Navasakthi Nagar?

The current guideline value of Navasakthi Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 500 per sq.ft in 2023 to Rs 555 per sq.ft in 2024, marking an 11% increase.

What is the median guideline value for streets in Vellanoor-1?

The median guideline value for the 34 streets in Vellanoor-1 under the Avadi SRO is Rs 555 per sq.ft, which is also the current guideline value for Navasakthi Nagar.

What are the stamp duty rates for property in Navasakthi Nagar?

The stamp duty rate for property transactions in Navasakthi Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Navasakthi Nagar?

The Sub Registrar Office covering Navasakthi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.