Guideline Value for Navasakthi Nagar

Navasakthi Nagar guideline value

The current guideline value of Navasakthi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Mepur village under the Kunrathur SRO and is classified as Residential Class I Type - I.

How the guideline value of Navasakthi Nagar has changed

The guideline value for Navasakthi Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 280 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, this figure dropped to Rs 469 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 700 per sq.ft, and the current 2024 revision has further increased it to Rs 770 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 175%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mepur

Mepur village features 22 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 550 to Rs 2,955 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Navasakthi Nagar.

• Navasakthi Nagar Phase I Extention: Rs 770 per sq.ft (2024)
• M R Manickam Nagar: Rs 660 per sq.ft (2024)
• Mayavan Nagar: Rs 770 per sq.ft (2024)
• Madheena Garden: Rs 820 per sq.ft (2024)
• Road Street: Rs 770 per sq.ft (2024)
• Kasthuri Sriram Nagar: Rs 820 per sq.ft (2024)

Stamp duty and registration fee for property in Navasakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Navasakthi Nagar?

The Navasakthi Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Mepur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

When registering a property, the guideline value acts as a benchmark for the minimum value on which the stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Navasakthi Nagar?

The current guideline value of Navasakthi Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed in recent years?

In recent years, the guideline value has increased from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024, marking a 10% increase. The value has also seen significant changes from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the registration fee for property in Navasakthi Nagar?

The registration fee for property in Navasakthi Nagar is calculated at 2% of the guideline value. For example, for a property valued at Rs 7,70,000, the registration fee would be Rs 15,400.

Where can I find the Sub Registrar Office for Navasakthi Nagar?

The Sub Registrar Office covering Navasakthi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO online.

What is the significance of guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for the minimum value on which these fees are calculated, ensuring compliance with government regulations.