Guideline Value for Navithar Street

Navithar Street guideline value

The current guideline value of Navithar Street is Rs 1,330 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Navithar Street has changed

The guideline value for Navithar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and further rose to Rs 1,330 per sq.ft in the 2024 revision, marking an 11% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Navithar Street's 2024 figure above this median.

• Old Arts Collage Road, East side, West side: Rs 1,100 per sq.ft (2024)
• Othavadai 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Othavadai Cross Street: Rs 1,100 per sq.ft (2024)
• Othavadai Street: Rs 1,485 per sq.ft (2024)
• Padasalai Cross Street: Rs 550 per sq.ft (2024)
• Padasalai Cross Street 1,2,3,4,5,6,7: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Navithar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,330 per sq.ft, the total guideline value amounts to Rs 13,30,000. The stamp duty, charged at 7%, would be Rs 93,100, while the registration fee at 2% would be Rs 26,600, bringing the total fees to Rs 1,19,700. 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 precise calculations.

Which Sub Registrar Office covers Navithar Street?

The Sub Registrar Office that covers Navithar Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Mamallapuram. It is used to determine the applicable stamp duty and registration fees when buying or selling property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating fees.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. It is essential for both buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Navithar Street?

The current guideline value of Navithar Street is Rs 1,330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,330 per sq.ft in 2024.

What is the land classification of Navithar Street?

Navithar Street is classified as Commercial Class I Type - III, indicating its commercial significance in the area.

What are the stamp duty rates applicable to properties in Navithar Street?

The stamp duty for properties in Navithar Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Navithar Street located?

The Sub Registrar Office for Navithar Street is located at Thiruchengode - 637 211, within the Chengalpattu registration zone.