Guideline Value for Naveen Nagar

Naveen Nagar guideline value

The current guideline value of Naveen Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village and falls under the Gooduvancheri SRO, classified as Residential Special Type - I.

How the guideline value of Naveen Nagar has changed

The guideline value for Naveen Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 175 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 243% rise. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The value then rose again to Rs 600 per sq.ft in 2023 and remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, maintaining the rate of Rs 600 per sq.ft in both 2023 and 2024. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, and the median value is Rs 700 per sq.ft. The guideline value for Naveen Nagar is below this median.

• Nansi Nagar (Extn): Rs 600 per sq.ft (2024)
• Nanci Nagar: Rs 600 per sq.ft (2024)
• M.K.R. Nagar: Rs 600 per sq.ft (2024)
• Mantharayalaya Nagar: Rs 600 per sq.ft (2024)
• Periyar Street: Rs 600 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Naveen Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Naveen Nagar?

The Sub Registrar Office that covers Naveen Nagar 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 Atanancheri

The guideline value plays a crucial role during property registration in Atanancheri. It is used to assess the stamp duty and registration fees that buyers and sellers must pay when completing a transaction. The guideline value is a standardized measure that helps ensure transparency and fairness in property dealings.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This system helps maintain a consistent valuation for properties in the area, aiding in the smooth processing of real estate transactions.

Frequently asked questions

What is the current guideline value of Naveen Nagar?

The current guideline value of Naveen Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 175 per sq.ft in 2007, increasing to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017, and returning to Rs 600 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Atanancheri?

The median guideline value for streets in Atanancheri is Rs 700 per sq.ft as of 2024, with Naveen Nagar's value being below this median.

What are the stamp duty rates for property in Naveen Nagar?

The stamp duty rate for property in Naveen Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Naveen Nagar located?

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