Guideline Value for Navalor Street

Navalor Street guideline value

The current guideline value of Navalor Street in Irumpuliyur 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 I Type - III.

How the guideline value of Navalor Street has changed

The guideline value for Navalor Street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 67%. However, the value then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The next revision in 2023 raised the value to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 83%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, making Navalor Street's 2024 value below that median.

• Narmatha Street: Rs 2,200 per sq.ft (2024)
• Nalvar Street: Rs 2,200 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Nithiyanandam Nagar 1-st St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 2-nd St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 3-rd St: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Navalor Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navalor Street?

The Sub Registrar Office that covers Navalor 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irumpuliyur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is legally documented and taxed appropriately.

When a property is sold, the higher value between the guideline value and the actual sale price is used to determine the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Navalor Street?

The current guideline value of Navalor 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 600 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What are the stamp duty and registration fees for properties in Navalor Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property at the current rate, the total fees amount to Rs 99,000.

Which Sub Registrar Office covers Navalor Street?

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

What is the land classification for Navalor Street?

Navalor Street is classified as Residential Class I Type - III, which indicates the type of development and usage permitted in the area.