Guideline Value for Navadeepam nagar

Navadeepam nagar guideline value

The current guideline value of Navadeepam nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Maakaanyam village, under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Navadeepam nagar has changed

In the 2012 revision, the guideline value was Rs 300 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. The value then increased significantly to Rs 300 per sq.ft in the 2023 revision, maintaining that same value in the 2024 revision, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. However, from 2012 to 2017, the value experienced a decrease of 33%. Overall, the guideline value from 2012 to 2024 has remained the same at Rs 300 per sq.ft.

Guideline values in Maakaanyam

In Maakaanyam village, there are 41 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing Navadeepam nagar above this median value.

• MRB Nagar: Rs 200 per sq.ft (2024)
• Padasalai Street: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Kupera Nagar: Rs 200 per sq.ft (2024)
• RPG Gopika Garden: Rs 150 per sq.ft (2024)
• Kalyana Perumal Nagar‍‍ I: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Navadeepam nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. The duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navadeepam nagar?

The Sub Registrar Office that covers Navadeepam nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Maakaanyam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Navadeepam nagar?

The current guideline value of Navadeepam nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a decrease to Rs 201 per sq.ft in 2017, followed by an increase back to Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Maakaanyam?

The median guideline value for the 41 streets in Maakaanyam is Rs 250 per sq.ft, with Navadeepam nagar's value being above this median.

What are the stamp duty and registration fees for a property in Navadeepam nagar?

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000 and the registration fee is Rs 6,000, totaling Rs 27,000.

Which office handles property registrations for Navadeepam nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Navadeepam nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.