Guideline Value for Navalar Nagar - Kamarajar Street & Lane

Navalar Nagar - Kamarajar Street & Lane guideline value

The current guideline value for Navalar Nagar - Kamarajar Street & Lane is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Navalar Nagar - Kamarajar Street & Lane has changed

The guideline value for Navalar Nagar - Kamarajar Street & Lane has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure remained until the 2017 revision, which decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft as of 2024. The median guideline value for the village is Rs 3,300 per sq.ft, placing Navalar Nagar - Kamarajar Street & Lane's 2024 figure below that median.

• Navalar Nagar - Gandhi Street: Rs 2,750 per sq.ft (2024)
• Navalar Nagar - Annai Indhira Street: Rs 2,750 per sq.ft (2024)
• Navalar Nagar: Rs 2,750 per sq.ft (2024)
• N.S.C. Bose Street: Rs 3,300 per sq.ft (2024)
• Otrai Vadai Street: Rs 4,400 per sq.ft (2024)
• Pallavan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Navalar Nagar - Kamarajar Street & Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, these fees would total Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navalar Nagar - Kamarajar Street & Lane?

The Sub Registrar Office that covers Navalar Nagar - Kamarajar Street & Lane is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Navalar Nagar - Kamarajar Street & Lane?

The current guideline value for Navalar Nagar - Kamarajar Street & Lane is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Navalar Nagar - Kamarajar Street & Lane?

The land classification for Navalar Nagar - Kamarajar Street & Lane is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.