Guideline Value for Naveen Nagar Part-I,II,III

Naveen Nagar Part-I,II,III guideline value

The current guideline value of Naveen Nagar Part-I,II,III is Rs 800 per sq.ft. This area is located in Vengadamangalam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Naveen Nagar Part-I,II,III has changed

Over the years, the guideline value of Naveen Nagar Part-I,II,III has experienced several revisions. The earliest recorded revision was in 2007, setting the guideline value at Rs 325 per sq.ft. This figure increased significantly in 2012 to Rs 800 per sq.ft, reflecting a remarkable growth of 146%. However, in the subsequent revision in 2017, the value decreased to Rs 536 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 800 per sq.ft, representing an increase of 49% from the previous figure.

Overall, from 2007 to 2023, the guideline value has increased by 146%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific guideline values provided for other streets in Vengadamangalam. Naveen Nagar Part-I,II,III is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Naveen Nagar Part-I,II,III

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naveen Nagar Part-I,II,III?

The Sub Registrar Office that covers Naveen Nagar Part-I,II,III is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengadamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is registered accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Naveen Nagar Part-I,II,III?

The current guideline value of Naveen Nagar Part-I,II,III is Rs 800 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 325 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Naveen Nagar Part-I,II,III?

Naveen Nagar Part-I,II,III is classified as Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,00,000, the stamp duty at 7% would be Rs 56,000.