Guideline Value for Navin Sanctum

Navin Sanctum guideline value

The current guideline value of Navin Sanctum is Rs 4,000 per sq.ft, effective from 1 July 2024. This property is located in Rajakilpakkam village, under the Selaiyur SRO. The land classification for this area is Mixed Type - III.

How the guideline value of Navin Sanctum has changed

The guideline value for Navin Sanctum has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,000 per sq.ft, which is an increase from the 2023 revision of Rs 3,734 per sq.ft, reflecting a change of +7%. The register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the guideline value had not been recorded for several years. The last known figure before 2023 was Rs 3,734 per sq.ft, which was established in 2023, marking a significant increase from previous years.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for the area is Rs 2,150 per sq.ft, placing Navin Sanctum's current value above this median.

• Nehru Street: Rs 850 per sq.ft (2024)
• Neminathan Nagar: Rs 1,600 per sq.ft (2024)
• Nisha Avenue II: Rs 2,150 per sq.ft (2024)
• Nizha Avenue: Rs 2,150 per sq.ft (2024)
• Nizha Avenue 1st street: Rs 2,150 per sq.ft (2024)
• Nizha Avenue 2nd Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Navin Sanctum

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total cost for these fees to Rs 3,60,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Navin Sanctum?

The Sub Registrar Office that covers Navin Sanctum is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is crucial for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Navin Sanctum?

The current guideline value of Navin Sanctum is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,734 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024, reflecting a +7% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What are the guideline values of other streets in Rajakilpakkam?

Other streets in Rajakilpakkam have varying guideline values, with rates ranging from Rs 850 to Rs 5,000 per sq.ft. The median value for the area is Rs 2,150 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is calculated at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,60,000.

Where is the Sub Registrar Office for Navin Sanctum located?

The Sub Registrar Office for Navin Sanctum is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office falls under the Chengalpattu registration zone.