Guideline Value for Navamani Street/Central Bank Colony

Navamani Street/Central Bank Colony guideline value

The current guideline value of Navamani Street/Central Bank Colony is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Navamani Street/Central Bank Colony has changed

The guideline value for Navamani Street/Central Bank Colony has seen significant changes over the years. In 2002, the value was Rs 147 per sq.ft, which increased to Rs 167 per sq.ft in 2003, marking a 14% rise. The value then saw a substantial increase to Rs 260 per sq.ft in 2007, representing a 56% change. Following that, the value surged to Rs 1,072 per sq.ft in 2017, which is a remarkable 312% increase. The next revision in 2023 set the value at Rs 1,600 per sq.ft, a 49% increase from the previous figure. The latest revision in 2024 has raised the guideline value to Rs 1,760 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, indicating that Navamani Street/Central Bank Colony's 2024 figure is below that median.

• Navalar Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nedunchalai Street, Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Nataraj Street, Dr. Ambedhkar Nagar: Rs 1,980 per sq.ft (2024)
• Nedunchezian Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Natarajan Street / Thiruvallavur Nagar: Rs 2,475 per sq.ft (2024)
• Natarajan Street (S.G.) / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Navamani Street/Central Bank Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,760 per sq.ft, the guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. It is essential to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Navamani Street/Central Bank Colony?

The Sub Registrar Office covering Navamani Street/Central Bank Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is important to be aware that the guideline value may differ from the actual sale price. The stamp duty and registration fees are calculated based on the higher value between the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Navamani Street/Central Bank Colony?

The current guideline value of Navamani Street/Central Bank Colony is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 147 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1,097% over the years.

What is the land classification of Navamani Street/Central Bank Colony?

Navamani Street/Central Bank Colony is classified as Residential Class III Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

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 17,60,000, the stamp duty would be Rs 1,23,200 at a rate of 7%.