Guideline Value for Navasakthi Nagar

Navasakthi Nagar guideline value

The current guideline value of Navasakthi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is part of Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Navasakthi Nagar has changed

Over the years, the guideline value of Navasakthi Nagar has seen significant changes. The earliest recorded figure was Rs 153 per sq.ft in 2003, which rose to Rs 1,273 per sq.ft in 2017. This marked an increase of 732%. Following that, the value jumped to Rs 1,900 per sq.ft in 2023, representing a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for the years 2002, 2007, and 2012 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1266%.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which matches the current rate for Navasakthi Nagar.

• Muthu Nagar: Rs 2,090 per sq.ft (2024)
• Muthumani Nagar: Rs 2,090 per sq.ft (2024)
• Noombal Church Street: Rs 1,870 per sq.ft (2024)
• Noombal Erikkarai 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Noombal Erikkarai Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Noombal Erikkarai School Street: Rs 2,090 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 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800. Together, the total cost for stamp duty and registration would be Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navasakthi Nagar?

The Sub Registrar Office that covers Navasakthi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate applicable fees, such as stamp duty. This ensures that the transaction is recorded accurately and reflects the current market conditions.

Frequently asked questions

What is the current guideline value for Navasakthi Nagar?

The current guideline value for Navasakthi Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 153 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 1266%.

What are the stamp duty and registration fees in Navasakthi Nagar?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office covers Navasakthi Nagar?

The Kunrathur Sub Registrar Office covers Navasakthi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Navasakthi Nagar?

Navasakthi Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.