Guideline Value for Navaneetham Nagar Extn

Navaneetham Nagar Extn guideline value

The current guideline value of Navaneetham Nagar Extn is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this region is Residential Class I Type - II.

How the guideline value of Navaneetham Nagar Extn has changed

The guideline value for Navaneetham Nagar Extn has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 1,600 per sq.ft in 2012, marking a rise of 540%. However, in 2017, the value dropped to Rs 1,072 per sq.ft, which was a decrease of 33%. The value then rose again to Rs 1,600 per sq.ft in 2023, before reaching the current figure of Rs 1,700 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 580%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Navaneetham Nagar Extn is below this median.

• Navaneetham Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Navaneetham Nagar 6th Street: 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 Extn

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the 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, totaling 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Navaneetham Nagar Extn?

The Sub Registrar Office that covers Navaneetham Nagar Extn 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 online for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to check the latest guideline values to ensure compliance with local regulations. This helps in accurately estimating the total costs involved in the buying or selling process, thus aiding in better financial planning.

Frequently asked questions

What is the current guideline value of Navaneetham Nagar Extn?

The current guideline value of Navaneetham Nagar Extn 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 significantly from Rs 250 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 580% over the years.

What is the land classification for Navaneetham Nagar Extn?

The land classification for Navaneetham Nagar Extn is Residential Class I Type - II.

What are the stamp duty and registration fees for a property in Navaneetham Nagar Extn?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for properties in Navaneetham Nagar Extn?

The Selaiyur Sub Registrar Office handles registrations for properties in Navaneetham Nagar Extn, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.