Guideline Value for NAVIDHAR STREET

Navidhar Street guideline value

The current guideline value of Navidhar Street in Karunguzhi village is Rs 401 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Mixed Type - I land.

How the guideline value of Navidhar Street has changed

The guideline value for Navidhar Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which set the value at Rs 80 per sq.ft. This increased significantly to Rs 400 per sq.ft in the 2012 revision, marking a 400% rise. However, the value decreased to Rs 268 per sq.ft in the 2017 revision, a drop of 33%. The value then rose to Rs 400 per sq.ft in 2023, and has remained stable at Rs 401 per sq.ft in the 2024 revision, showing no change from the previous year.

It is important to note that there are no recorded figures for Navidhar Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the current 2024 value, there has been a significant increase of 401%.

Guideline values in Karunguzhi

In Karunguzhi, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft, with the median value also being Rs 401 per sq.ft. Navidhar Street's 2024 guideline value aligns with this median.

• North Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Old Post Office Street: Rs 401 per sq.ft (2024)
• Ottha Vaadai Street: Rs 401 per sq.ft (2024)
• PALLA PETTAI (a) KAIKKOLAR PETTAI: Rs 600 per sq.ft (2024)
• Parvatha Rajagula Street: Rs 401 per sq.ft (2024)
• Pattai Street: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Navidhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total cost to Rs 36,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navidhar Street?

The Sub Registrar Office that covers Navidhar Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Karunguzhi. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the state authorities.

When buying or selling property, the guideline value helps in assessing the legal obligations related to property transfer. It is essential for both buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Navidhar Street?

The current guideline value of Navidhar Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes, from Rs 80 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, marking an overall increase of 401%.

What is the registration office for Navidhar Street?

The registration office for Navidhar Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty rates applicable?

The stamp duty applicable for property transactions is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Are there other streets with the same guideline value in Karunguzhi?

Yes, there are several other streets in Karunguzhi that share the same guideline value of Rs 401 per sq.ft, including North Pillayar Koil Street, Old Post Office Street, and Ottha Vaadai Street.