Guideline Value for Navin Avenue

Navin Avenue guideline value

The current guideline value of Navin Avenue, located in Parivakkam village under the Poonamallee SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Navin Avenue has changed

The guideline value for Navin Avenue has undergone several revisions over the years. The oldest available revision is from 2012, where the value was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017, which marked a significant drop of 33%. In 2023, the value increased to Rs 600 per sq.ft, and the most recent revision in 2024 set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Parivakkam

In Parivakkam, there are 31 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 6,750 per sq.ft. The median value for these streets is Rs 1,800 per sq.ft, placing Navin Avenue's 2024 figure below that median.

• Newry Clovery County: Rs 3,500 per sq.ft (2024)
• Om Sakthi Nagar: Rs 660 per sq.ft (2024)
• Oom Sundaram Nagar: Rs 1,550 per sq.ft (2024)
• Pav Green Field: Rs 3,000 per sq.ft (2024)
• Masilamani Nagar Extension: Rs 1,800 per sq.ft (2024)
• Masilamani Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Navin Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Navin Avenue?

The Sub Registrar Office covering Navin Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum sale price for registration purposes. This ensures that the property is registered at a value that reflects its official worth, which is essential for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Navin Avenue?

The current guideline value of Navin Avenue is Rs 660 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value can change based on revisions made by the registration department, with the most recent revisions occurring in 2024, 2023, 2017, and 2012 for Navin Avenue.

What was the guideline value in 2017?

In 2017, the guideline value for Navin Avenue was Rs 402 per sq.ft, which was a decrease from the previous figure of Rs 600 per sq.ft in 2012.

How is stamp duty calculated for properties in Navin Avenue?

Stamp duty for properties in Navin Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.

Where can I find the Sub Registrar Office for Navin Avenue?

The Sub Registrar Office for Navin Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.