Guideline Value for Najeeb Avenue 2nd Street

Najeeb Avenue 2nd Street guideline value

The current guideline value of Najeeb Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Najeeb Avenue 2nd Street has changed

Over the years, the guideline value for Najeeb Avenue 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from Rs 1,005 per sq.ft in the 2017 revision. The value remained unchanged at Rs 1,500 per sq.ft until the 2023 revision, which increased it to Rs 1,650 per sq.ft, marking a 10% rise. The latest revision in 2024 maintains the value at Rs 1,650 per sq.ft.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Najeeb Avenue 2nd Street.

• Najeeb Avenue: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Nakkiran Street: Rs 1,100 per sq.ft (2024)
• M.Varadharasan Nagar Extension Part: Rs 1,650 per sq.ft (2024)
• Muthuvel Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Najeeb Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. 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 Najeeb Avenue 2nd Street?

The Najeeb Avenue 2nd Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying, while sellers must consider it when pricing their property for sale.

Frequently asked questions

What is the current guideline value of Najeeb Avenue 2nd Street?

The current guideline value of Najeeb Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Najeeb Avenue 2nd Street?

The land classification for Najeeb Avenue 2nd Street is Residential Class I Type - III.

Where can I find the Sub Registrar Office for Najeeb Avenue 2nd Street?

The Sub Registrar Office covering Najeeb Avenue 2nd Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property in Najeeb Avenue 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.