Guideline Value for Navalar Street

Navalar Street guideline value

The current guideline value of Navalar Street in Selaiyur village is Rs 850 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class V Type - I.

How the guideline value of Navalar Street has changed

Over the years, the guideline value of Navalar Street has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, but then saw a decrease to Rs 536 per sq.ft in 2017. The value rose again to Rs 800 per sq.ft in 2023, and currently stands at Rs 850 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 183%. The changes between the revisions show a 167% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 6% increase from 2023 to 2024.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that Navalar Street's 2024 figure is below the median.

• Natarajan Street: Rs 850 per sq.ft (2024)
• Natarajan Nagar: Rs 850 per sq.ft (2024)
• Natarajan Colony: Rs 850 per sq.ft (2024)
• Narayana layout (Vijayalakshmi Street): Rs 850 per sq.ft (2024)
• Narayana layout (Thanalakshmi Street): Rs 1,100 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Navalar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost together to Rs 76,500. It is important to note that the stamp 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 Navalar Street?

The Sub Registrar Office that covers Navalar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the market conditions and property valuations in the area.

Frequently asked questions

What is the current guideline value of Navalar Street?

The current guideline value of Navalar Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value of Navalar Street changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, with various increases and decreases over the years.

What is the classification of land on Navalar Street?

Navalar Street is classified as Residential Class V Type - I according to the local regulations.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Navalar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 at a rate of 7%.