Guideline Value for Naveen Nagar

Naveen Nagar guideline value

The current guideline value of Naveen Nagar, located in Karasangal village, is Rs 400 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class I Type - I land classification, managed by the Sriperumpudur SRO.

How the guideline value of Naveen Nagar has changed

Over the years, the guideline value of Naveen Nagar has seen several revisions. The 2012 revision set the guideline value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in the 2017 revision, the value was adjusted to Rs 268 per sq.ft, marking a decrease of 33%. Following this, the value increased significantly by 49% to Rs 400 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0% as the value has returned to Rs 400 per sq.ft.

Guideline values in Karasangal

In Karasangal village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 402 per sq.ft, placing Naveen Nagar's 2024 figure slightly below this median.

• Nehru Street: Rs 250 per sq.ft (2024)
• Nanbargal Nagar Extension: Rs 600 per sq.ft (2024)
• Nanbargal Nagar: Rs 600 per sq.ft (2024)
• Nanbargal Avenue Extension: Rs 600 per sq.ft (2024)
• Nanbargal Avenue: Rs 600 per sq.ft (2024)
• Nallatchi Amman Nagar: Rs 250 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty is charged at 7%, which would be Rs 28,000, and the registration fee at 2% amounts to Rs 8,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Naveen Nagar?

The Naveen Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karasangal. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and avoid any potential legal issues.

Additionally, the guideline value impacts the amount of stamp duty and registration fees payable during the transaction. It is essential for both parties to be aware of the current guideline value to accurately calculate these costs and ensure a smooth property transfer process.

Frequently asked questions

What is the current guideline value of Naveen Nagar?

The current guideline value of Naveen Nagar is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 400 per sq.ft in both the 2023 and 2024 revisions. The value was previously Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the median guideline value for streets in Karasangal?

The median guideline value for the 59 streets in Karasangal is Rs 402 per sq.ft, with Naveen Nagar's value being slightly below this median.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles property registrations in Naveen Nagar?

The Sriperumpudur Sub Registrar Office at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, handles property registrations for Naveen Nagar.