Guideline Value for Navalar Lane

Navalar Lane guideline value

The current guideline value of Navalar Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Navalar Lane has changed

The guideline value for Navalar Lane has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision. Notably, there was no change in the value from 2012 to 2023, as both years recorded the same figure of Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The changes between the revisions show an increase of 8% from 2023 to 2024, while there was no change from 2012 to 2023.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Navalar Lane's 2024 figure is below this median.

• Navalar Road: Rs 1,300 per sq.ft (2024)
• Nataraja Street: Rs 1,300 per sq.ft (2024)
• Nedunchezhiyan Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Narayanappan Thottam Street: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 9th Lane: Rs 2,200 per sq.ft (2024)
• Narayanappan Thottam 8th Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Navalar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Navalar Lane?

The Sub Registrar Office that covers Navalar Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the financial obligations associated with the transaction, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Navalar Lane?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There was no change in the value from 2012 to 2023, as both years recorded Rs 1,200 per sq.ft.

What is the land classification of Navalar Lane?

Navalar Lane is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in Navalar Lane?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Navalar Lane located?

The Sub Registrar Office for Navalar Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.