Guideline Value for NAVITHAR STREET

Navithar Street guideline value

The current guideline value of Navithar Street in Beerakupam village is Rs 175 per sq.ft, effective from 1 July 2024. This street falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Navithar Street has changed

The guideline value for Navithar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 75 per sq.ft, which increased to Rs 175 per sq.ft in the 2012 revision, marking a significant increase of 133%. However, in the 2017 revision, the value was adjusted down to Rs 117 per sq.ft, a decrease of 33%. The value then rose again to Rs 175 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that there are no figures available in the register for the years 2002 and 2003 for Navithar Street. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Beerakupam

In Beerakupam, there are 10 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 200 per sq.ft, with a median value of Rs 175 per sq.ft. Navithar Street's 2024 guideline value aligns with this median.

• Noochili Road: Rs 175 per sq.ft (2024)
• Passukal Battai Street: Rs 150 per sq.ft (2024)
• Kuyavar Street (A) Udayar Street: Rs 175 per sq.ft (2024)
• S.Agraharam New Road: Rs 150 per sq.ft (2024)
• South Street: Rs 150 per sq.ft (2024)
• Gandhi Road (A) S. Agragaram Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Navithar Street

For a 1,000 sq.ft plot at the current rate of Rs 175 per sq.ft, the guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total to Rs 15,750. 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 Navithar Street?

The Sub Registrar Office covering Navithar Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Beerakupam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Navithar Street?

The current guideline value of Navithar Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 175 per sq.ft in 2012, then decreased to Rs 117 per sq.ft in 2017, and returned to Rs 175 per sq.ft in both 2023 and 2024.

What is the land classification of Navithar Street?

Navithar Street is classified as Residential Class I Type - I under the Ramakrishna Rajupettai SRO.

What are the stamp duty and registration fees for property on Navithar Street?

For a property valued at Rs 1,75,000, the stamp duty would be Rs 12,250 and the registration fee would be Rs 3,500, totaling Rs 15,750.

Which office handles registrations for Navithar Street?

The Ramakrishna Rajupettai Sub Registrar Office handles registrations for Navithar Street, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.