Guideline Value for Navaneetham Nagar 7th Street

Navaneetham Nagar 7th Street guideline value

The current guideline value of Navaneetham Nagar 7th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Navaneetham Nagar 7th Street has changed

The guideline value for Navaneetham Nagar 7th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft. Following this, the value significantly increased to Rs 1,600 per sq.ft in 2023, and then rose again to Rs 1,700 per sq.ft in 2024, marking a 6% increase from the previous year.

From the 2017 revision to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values 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, placing the Navaneetham Nagar 7th Street's 2024 figure below that median.

• Navaneetham Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar Extn: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 4th Street: 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 7th 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 at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. It is important to note that the 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 Navaneetham Nagar 7th Street?

The Navaneetham Nagar 7th Street falls under 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 more information.

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

The guideline value is essential during property registration in Chembakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate transactions. It is crucial for buyers and sellers to be aware of the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Navaneetham Nagar 7th Street?

The current guideline value of Navaneetham Nagar 7th 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 2023 to Rs 1,700 per sq.ft in 2024, marking a 6% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What is the land classification of Navaneetham Nagar 7th Street?

Navaneetham Nagar 7th Street is classified as Residential Class I Type - II.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Navaneetham Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.