Guideline Value for Navalar Street

Navalar Street guideline value

The current guideline value of Navalar Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Navalar Street has changed

The guideline value for Navalar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and the most recent revision in 2024 has raised it to Rs 1,100 per sq.ft. Notably, there are no figures available for this street in the revisions of 2002, 2003, and 2007.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Navalar Street is below this median.

• Narasimman Street: Rs 1,320 per sq.ft (2024)
• Nehru Street: Rs 1,100 per sq.ft (2024)
• Nalayini Street: Rs 1,320 per sq.ft (2024)
• Nethaji Street: Rs 1,650 per sq.ft (2024)
• Nethaji Street Vard 13th: Rs 1,650 per sq.ft (2024)
• Muthuswamy street ext(srinivasa nagar): Rs 1,650 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, resulting in a total cost of Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the total costs involved in the transaction. This includes the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price, ensuring that all parties are clear on the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Navalar Street?

The current guideline value of Navalar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Navalar Street?

Navalar Street is classified as Residential Class II Type - I under the Tambaram Joint 1 SRO.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.

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 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 77,000.