Guideline Value for Najeeb Avenue 3rd Street

Najeeb Avenue 3rd Street guideline value

The current guideline value of Najeeb Avenue 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Najeeb Avenue 3rd Street has changed

The guideline value for Najeeb Avenue 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. However, the 2023 revision increased it to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. Following that, the value increased by 49% from 2017 to 2023. The 2023 to 2024 revision shows a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value 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 3rd Street.

• Najeeb Avenue 2nd Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue: 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Najeeb Avenue 3rd Street?

The Sub Registrar Office that covers Najeeb Avenue 3rd Street is 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When you proceed with a property transaction, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Najeeb Avenue 3rd Street?

The current guideline value of Najeeb Avenue 3rd 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 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value for streets in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which is the same as the current guideline value for Najeeb Avenue 3rd Street.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 1,48,500 in fees.

Which office handles registrations for Najeeb Avenue 3rd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Najeeb Avenue 3rd Street, located at No.26, mes Road, East Tambaram, Chennai-600059.