Guideline Value for Navasakthi Nagar

Navasakthi Nagar guideline value

The current guideline value of Navasakthi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai 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. In 2007, the value was set at Rs 50 per sq.ft, which dramatically increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 2300%. However, it then decreased to Rs 804 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 1,200 per sq.ft in 2023, and most recently, it rose to Rs 1,320 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has surged by 2540%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value for Navasakthi Nagar is above this median.

• Nethaji Nagar: Rs 3,300 per sq.ft (2024)
• Muthu Nagar: Rs 1,320 per sq.ft (2024)
• N.G.O. Colony: Rs 1,320 per sq.ft (2024)
• N.S.K.Street: Rs 830 per sq.ft (2024)
• Murugathamman Pettai: Rs 990 per sq.ft (2024)
• Murugathamman Nagar phase-II: Rs 830 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees together Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Navasakthi Nagar?

The Sub Registrar Office that covers Navasakthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padappai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Navasakthi Nagar?

The current guideline value of Navasakthi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 50 per sq.ft to Rs 1,320 per sq.ft in 2024, representing an overall increase of 2540%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000. The stamp duty at 7% amounts to Rs 92,400, and the registration fee at 2% is Rs 26,400, totaling Rs 1,18,800.

Which office should I visit to register property in Navasakthi Nagar?

The Padappai Sub Registrar Office is responsible for property registration in Navasakthi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the correct fees are paid based on the current valuation of the property.