Guideline Value for Navaler Street

Navaler Street guideline value

The current guideline value of Navaler Street in Chennerkuppam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Residential Class II Type - I.

How the guideline value of Navaler Street has changed

The guideline value for Navaler Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 300% rise. However, this value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw the value rise again to Rs 1,200 per sq.ft, and the most recent 2024 revision has increased it to Rs 1,320 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for Navaler Street in the revisions from 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Navaler Street's 2024 figure below this median.

• Narmatha Extension: Rs 1,540 per sq.ft (2024)
• Narmatha Enclave: Rs 1,540 per sq.ft (2024)
• M.R. Avenue: Rs 1,540 per sq.ft (2024)
• M.M. Koil Street (a) Mariamman Koil Street: Rs 1,540 per sq.ft (2024)
• Pallavan Nagar: Rs 1,320 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Navaler Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty is calculated at 7%, which comes to Rs 92,400, while the registration fee at 2% amounts to Rs 26,400. Together, the total cost for these fees is Rs 1,18,800. It is important to note that 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 information.

Which Sub Registrar Office covers Navaler Street?

The Sub Registrar Office that covers Navaler Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Chennerkuppam. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is used to determine the minimum value for which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Navaler Street?

The current guideline value of Navaler Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, an overall increase of 340% across the years.

What are the other streets with guideline values in Chennerkuppam?

Other streets in Chennerkuppam include Narmatha Extension, Narmatha Enclave, M.R. Avenue, M.M. Koil Street (a) Mariamman Koil Street, Pallavan Nagar, and Mettu Street, each with varying guideline values.

What is the stamp duty rate for properties in Navaler Street?

The stamp duty rate for properties in Navaler Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for Navaler Street?

The registration office for Navaler Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.