Guideline Value for Navasakthi Nagar

Navasakthi Nagar guideline value

The current guideline value of Navasakthi Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This area is located in Porur village under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Navasakthi Nagar has changed

The guideline value for Navasakthi Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 176 per sq.ft. It then increased to Rs 400 per sq.ft in 2003, marking a 127% increase. In 2007, the value rose significantly to Rs 750 per sq.ft, a change of 88%. The 2012 revision saw a decrease to Rs 3,200 per sq.ft, which was a drop of 33%. The guideline value then increased to Rs 2,144 per sq.ft in 2017, reflecting a 49% rise. The 2023 revision set the value at Rs 3,200 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,520 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,900%. Notably, there are no figures available for the revisions in the years not listed for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value is Rs 3,960 per sq.ft, placing Navasakthi Nagar's 2024 value below this median.

• Navamani Street: Rs 3,520 per sq.ft (2024)
• Narayanan Street: Rs 4,290 per sq.ft (2024)
• Nehru Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that 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 more detailed calculations.

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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating the sale price, as the higher of the guideline value or the sale price will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Navasakthi Nagar?

The current guideline value of Navasakthi Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 176 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1,900% over this period.

What is the land classification for Navasakthi Nagar?

Navasakthi Nagar is classified as Residential Special Type - II.

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

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

How is stamp duty calculated for properties in Navasakthi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.