Guideline Value for Navabharath Colony S.No. 300/4

Navabharath Colony S.No. 300/4 guideline value

The current guideline value for Navabharath Colony S.No. 300/4 is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Navabharath Colony S.No. 300/4 has changed

The guideline value for Navabharath Colony S.No. 300/4 has undergone several revisions over the years. In 2007, the guideline value was set at Rs 800 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the 2007 and 2012 revisions, there was a notable increase of 275%, and overall, from 2007 to 2024, the guideline value has risen by 313%. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Navabharath Colony S.No. 300/4 is below this median.

• Navalar Nedunchezian Street: Rs 3,300 per sq.ft (2024)
• Navarathina Colony: Rs 3,300 per sq.ft (2024)
• Nateem Ali Garden Street: Rs 3,300 per sq.ft (2024)
• Nayakkamar Street: Rs 6,600 per sq.ft (2024)
• Natarajan Street (Saidai Sampandan Street near): Rs 4,100 per sq.ft (2024)
• Natarajan Street Block 85: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Navabharath Colony S.No. 300/4

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 Navabharath Colony S.No. 300/4?

The Sub Registrar Office covering Navabharath Colony S.No. 300/4 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Navabharath Colony S.No. 300/4?

The current guideline value for Navabharath Colony S.No. 300/4 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over this period.

What is the land classification for Navabharath Colony S.No. 300/4?

The land classification for Navabharath Colony S.No. 300/4 is Residential Class IV Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for this area?

The Ashok Nagar Sub Registrar Office handles the registration for Navabharath Colony S.No. 300/4, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.