Guideline Value for Navaneetham Nagar 6th Street

Navaneetham Nagar 6th Street guideline value

The current guideline value of Navaneetham Nagar 6th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Navaneetham Nagar 6th Street has changed

The guideline value for Navaneetham Nagar 6th Street has seen several revisions over the years. The earliest available figure is from 2012, when the guideline value was Rs 1,600 per sq.ft. This remained unchanged until the next revision in 2017, where it dropped to Rs 1,072 per sq.ft. However, this figure rebounded significantly to Rs 1,600 per sq.ft in 2023, before reaching the current value of Rs 1,700 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 regarding this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. The value then rose by 6% from 2023 to 2024. Overall, from 2012 to 2024, there has been a modest increase of 6% in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are a total of 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Navaneetham Nagar 6th Street's current value is below this median.

• Navaneetham Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar Extn: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Navaneetham Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, calculated at 7%, would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navaneetham Nagar 6th Street?

The Sub Registrar Office that covers Navaneetham Nagar 6th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

When buying or selling property in Chembakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial obligations during the registration process. Understanding this value can help in making informed decisions when engaging in property transactions in the area.

Frequently asked questions

What is the current guideline value of Navaneetham Nagar 6th Street?

The current guideline value of Navaneetham Nagar 6th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft in 2024.

What are the other streets in Chembakkam with the same guideline value?

Several other streets in Chembakkam have the same guideline value of Rs 1,700 per sq.ft for 2024, including Navaneetham Nagar 5th Street, 7th Street, 4th Street, Extn, 3rd Street, and 2nd Street.

What fees are associated with buying property in Navaneetham Nagar 6th Street?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Which office handles property registrations for Navaneetham Nagar 6th Street?

The Selaiyur Sub Registrar Office handles property registrations for Navaneetham Nagar 6th Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.