Guideline Value for Navallar street

Navallar street guideline value

The current guideline value of Navallar street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village under the Poonamallee SRO and is classified as Residential Class II Type - I.

How the guideline value of Navallar street has changed

The guideline value for Navallar street has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the current value is Rs 2,200 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 633%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Navallar street.

• Narayanasamy nagar: Rs 2,200 per sq.ft (2024)
• Nanbarkal nagar: Rs 2,740 per sq.ft (2024)
• Nambi street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar Main Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar First Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Navallar street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navallar street?

The Sub Registrar Office that covers Navallar street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Poonthamallee. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately. It helps in determining the legal value of the property, which is essential for both buyers and sellers during the registration process.

Frequently asked questions

What is the current guideline value of Navallar street?

The current guideline value of Navallar street is Rs 2,200 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 2,200 per sq.ft in 2024, reflecting an overall increase of 633% over this period.

What are the stamp duty and registration fees for property in Navallar street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000 based on the current guideline value.

Which office handles registrations for Navallar street?

The Poonamallee Sub Registrar Office handles registrations for Navallar street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification for Navallar street?

Navallar street is classified as Residential Class II Type - I, which is relevant for determining its guideline value and usage.