Guideline Value for Navganesh Nagar

Navganesh Nagar guideline value

The current guideline value of Navganesh Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Soorapattu village under the Ambattur SRO, classified as Mixed Special Type - I.

How the guideline value of Navganesh Nagar has changed

Over the years, the guideline value for Navganesh Nagar has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,400 per sq.ft. The register has no figure for this street in 2002, 2003, or 2007.

Between revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Navganesh Nagar's 2024 figure above this median.

• Nehru Street: Rs 1,200 per sq.ft (2024)
• Nethaji Street: Rs 1,200 per sq.ft (2024)
• Nagathamman Koil Street Survey No.114/2A,2B,2C: Rs 4,478 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,200 per sq.ft (2024)
• Murugambedu Main Road: Rs 1,600 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Navganesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total fees Rs 2,16,000. 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 Navganesh Nagar?

The Sub Registrar Office covering Navganesh Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Soorapattu. It determines the minimum value at which the property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as set by the registration department. This helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Navganesh Nagar?

The current guideline value of Navganesh Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Navganesh Nagar?

Navganesh Nagar is classified as Mixed Special Type - I, which indicates the mixed-use nature of the area.

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

The Ambattur Sub Registrar Office covers Navganesh Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Navganesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,68,000.