Guideline Value for NAVASAKTHI VINAYAGAR KOIL STREET

Navasakthi Vinayagar Koil Street guideline value

The current guideline value of Navasakthi Vinayagar Koil Street is Rs 4,620 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 Residential Class II Type - I.

How the guideline value of Navasakthi Vinayagar Koil Street has changed

The guideline value for Navasakthi Vinayagar Koil Street has seen significant changes over the years. The register shows that in 2002, the guideline value was Rs 350 per sq.ft, which increased to Rs 404 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,000 per sq.ft in 2007, and then it further increased to Rs 4,200 per sq.ft in 2012. However, there was a decrease to Rs 2,814 per sq.ft in 2017. The guideline value then rose to Rs 4,200 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 4,620 per sq.ft.

In terms of changes, from 2002 to 2024, the overall increase is +1220%. The value rose by +15% from 2002 to 2003, followed by a remarkable +148% increase from 2003 to 2007. The guideline value then surged by +320% from 2007 to 2012, but saw a decrease of -33% from 2012 to 2017. After that, there was a significant increase of +49% from 2017 to 2023, and finally, a +10% rise from 2023 to 2024.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, which is the same as the guideline value for Navasakthi Vinayagar Koil Street. Below are the guideline values for other streets in Ekkaduthangal:

• Navarathna Garden 3rd Main Road: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 3rd Cross St: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 2nd Main Road: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 2nd Cross St: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 1st Main Road: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 1st Cross St: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Navasakthi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would amount to Rs 3,23,400, while the registration fee at 2% would be Rs 92,400. Together, the total cost for these fees would be Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navasakthi Vinayagar Koil Street?

The Navasakthi Vinayagar Koil Street falls under 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 when registering property in Ekkaduthangal. It serves as the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees. Buyers and sellers must consider this value to comply with legal requirements during the transaction process.

When a property is sold, the guideline value helps determine the amount of tax that needs to be paid. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Navasakthi Vinayagar Koil Street?

The current guideline value of Navasakthi Vinayagar Koil Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of +1220% over the years.

What are the other streets in Ekkaduthangal with their guideline values?

Other streets in Ekkaduthangal include Navarathna Garden 3rd Main Road, Navarathna Garden 3rd Cross St, Navarathna Garden 2nd Main Road, Navarathna Garden 2nd Cross St, Navarathna Garden 1st Main Road, and Navarathna Garden 1st Cross St, all with a guideline value of Rs 6,610 per sq.ft in 2024.

What is the stamp duty rate for properties in Navasakthi Vinayagar Koil Street?

The stamp duty rate for properties in Navasakthi Vinayagar Koil Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Navasakthi Vinayagar Koil Street?

The Sub Registrar Office for Navasakthi Vinayagar Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information online.