Guideline Value for Thirunavokarasu Street

Thirunavokarasu Street guideline value

The current guideline value of Thirunavokarasu Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thirunavokarasu Street has changed

Over the years, the guideline value of Thirunavokarasu Street has seen significant changes. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 500%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value continued to rise, reaching Rs 1,500 per sq.ft in 2023, and further increased to Rs 1,600 per sq.ft in the 2024 revision, reflecting a growth of 7% from the previous year. It is important to note that the register has no figure for this street for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 540%, showcasing the fluctuations in property values over the years.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Thirunavokarasu Street's 2024 figure is below this median.

• Thirunavukarasu Street Extn: Rs 1,600 per sq.ft (2024)
• Thirumoorthy Nagar Extn: Rs 950 per sq.ft (2024)
• Thirumoorthy Nagar: Rs 950 per sq.ft (2024)
• Thirumalai Nagar Part: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Thirumalai Nagar Extension 6th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirunavokarasu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirunavokarasu Street?

The Sub Registrar Office that covers Thirunavokarasu Street 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 information.

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

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, thus ensuring that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thirunavokarasu Street?

The current guideline value of Thirunavokarasu Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 540% over the years.

What is the land classification for Thirunavokarasu Street?

The land classification for Thirunavokarasu Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Thirunavokarasu Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty is Rs 1,12,000 and the registration fee is Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Thirunavokarasu Street located?

The Sub Registrar Office for Thirunavokarasu Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.