Guideline Value for Navab Abibulla Nagar

Navab Abibulla Nagar guideline value

The current guideline value of Navab Abibulla Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Navab Abibulla Nagar has changed

The guideline value for Navab Abibulla Nagar has seen several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012. However, this figure dropped to Rs 2,211 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 3,300 per sq.ft, and the most recent revision in 2024 set it at Rs 3,630 per sq.ft. Notably, the register has no figures for this street for the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%. The jump from 2012 to 2017 was a decrease of 33%. The remarkable rise from 2007 to 2012 was 843%. Overall, from 2007 to 2024, the guideline value has increased by 937%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Navab Abibulla Nagar above this median.

• Nehru Colony: Rs 1,210 per sq.ft (2024)
• Nehru Street: Rs 1,210 per sq.ft (2024)
• Neminathan Nagar: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nethaji Street: Rs 1,210 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Navab Abibulla Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,630 per sq.ft, the guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, totaling Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navab Abibulla Nagar?

The Sub Registrar Office that covers Navab Abibulla Nagar is located at Padappai Sub Registrar Office, 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Navab Abibulla Nagar?

The current guideline value of Navab Abibulla Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 350 per sq.ft in 2007 to Rs 3,630 per sq.ft in 2024, marking an overall increase of 937% since 2007.

What are the stamp duty rates for property in Navab Abibulla Nagar?

The stamp duty for property transactions in Navab Abibulla Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Navab Abibulla Nagar?

The Sub Registrar Office for Navab Abibulla Nagar is located at Padappai Sub Registrar Office, 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the guideline values for other streets in Mudichur?

Other streets in Mudichur have varying guideline values, with rates ranging from Rs 880 to Rs 4,000 per sq.ft. For instance, Nehru Colony and Nehru Street both have a guideline value of Rs 1,210 per sq.ft in 2024.