Guideline Value for Navarathina Colony

Navarathina Colony guideline value

The current guideline value of Navarathina Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under Kodambakkam village and is registered with the Ashok Nagar SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Navarathina Colony has changed

The guideline value for Navarathina Colony has seen several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which significantly increased to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision marked a further increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Notably, there are no figures recorded for the years 2002, 2003, and 2017 for this street. The overall increase from the 2007 revision to the 2024 revision is 313%, highlighting the substantial growth in guideline value over this period.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for this area is Rs 4,900 per sq.ft, placing Navarathina Colony's current guideline value below that median.

• Nayakkamar Street: Rs 6,600 per sq.ft (2024)
• Navalar Nedunchezian Street: Rs 3,300 per sq.ft (2024)
• Navabharath Colony S.No. 300/4: Rs 3,300 per sq.ft (2024)
• Nedunchezian Street: Rs 3,300 per sq.ft (2024)
• Nehru Avenue: Rs 5,500 per sq.ft (2024)
• Nateem Ali Garden Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Navarathina Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would total Rs 66,000. Together, these fees amount to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navarathina Colony?

The Sub Registrar Office that covers Navarathina Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

Frequently asked questions

What is the current guideline value of Navarathina Colony?

The current guideline value of Navarathina Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 313% over the years.

What are the stamp duty and registration fees for properties in Navarathina Colony?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Navarathina Colony?

The Ashok Nagar Sub Registrar Office handles the registration for Navarathina Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined in Kodambakkam?

The guideline value in Kodambakkam is determined by the Registration Department and reflects the official value of properties in the area, which is used to calculate stamp duty and registration fees during property transactions.