Guideline Value for Navarathina Apartments

Navarathina Apartments guideline value

The current guideline value for Navarathina Apartments is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Navarathina Apartments has changed

The guideline value for Navarathina Apartments has seen several revisions over the years. The 2007 revision set the value at Rs 2,000 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a rise of 225%. However, this value decreased by 33% to Rs 4,355 per sq.ft in the 2017 revision. The subsequent 2023 revision brought the value up to Rs 6,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 255%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mugappair

Mugappair village features a range of guideline values across its 224 streets under the Konnur SRO, with values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 7,100 per sq.ft, which matches the current value for Navarathina Apartments.

• Nehruji Nagar: Rs 3,800 per sq.ft (2024)
• Nehruji Street: Rs 3,800 per sq.ft (2024)
• Nakkeran Salai: Rs 7,100 per sq.ft (2024)
• New Kuberaganapathi Street: Rs 3,300 per sq.ft (2024)
• New Mariamman Koil Street: Rs 3,300 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Navarathina Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navarathina Apartments?

The Sub Registrar Office that covers Navarathina Apartments is the Konnur Sub Registrar Office. The address is Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Navarathina Apartments?

The current guideline value of Navarathina Apartments is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting a total increase of 255% over the years.

What are the stamp duty and registration fees for property in Navarathina Apartments?

For a 1,000 sq.ft plot, the stamp duty is Rs 4,97,000 and the registration fee is Rs 1,42,000, totaling Rs 6,39,000 based on the current guideline value.

Which office handles registrations for Navarathina Apartments?

The Konnur Sub Registrar Office handles registrations for Navarathina Apartments, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Navarathina Apartments?

The land classification for Navarathina Apartments is Residential Special Type - I.