Guideline Value for Najeeb Avenue 4th Street

Najeeb Avenue 4th Street guideline value

The current guideline value of Najeeb Avenue 4th 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 4th Street has changed

The guideline value for Najeeb Avenue 4th Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from Rs 1,500 per sq.ft in the 2023 revision. Looking back further, the 2017 revision recorded a value of Rs 1,005 per sq.ft, marking a significant increase of 49% from the previous 2023 figure.

Prior to that, in 2012, the guideline value was Rs 1,500 per sq.ft, which represents a decrease of 33% from the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam village, there are 548 streets under the Tambaram Joint 1 SRO that have 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 matches the guideline value of Najeeb Avenue 4th Street.

• Najeeb Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 2nd 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 4th 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 cost 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 on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Najeeb Avenue 4th Street?

The Sub Registrar Office that covers Najeeb Avenue 4th 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 details.

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

The guideline value is an essential factor when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during transactions.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is properly documented and valued according to government standards.

Frequently asked questions

What is the current guideline value of Najeeb Avenue 4th Street?

The current guideline value of Najeeb Avenue 4th 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, a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What are the other streets in Chitlapakkam with the same guideline value?

Other streets in Chitlapakkam with the same guideline value of Rs 1,650 per sq.ft include Najeeb Avenue 2nd Street, Najeeb Avenue 3rd Street, and Najeeb Avenue.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Najeeb Avenue 4th Street?

The Sub Registrar Office for Najeeb Avenue 4th Street is located at No.26, mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.