Guideline Value for FATHIMA NAGAR - Neithal Street

FATHIMA NAGAR - Neithal Street guideline value

The current guideline value for FATHIMA NAGAR - Neithal Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of FATHIMA NAGAR - Neithal Street has changed

The guideline value for FATHIMA NAGAR - Neithal Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 524 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a 24% increase. The value remained the same in 2007, but saw a significant jump to Rs 4,000 per sq.ft in 2012, reflecting a 515% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 740%.

The register has no figures for the years 2017 and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft, with a median of Rs 3,850 per sq.ft. The guideline value for FATHIMA NAGAR - Neithal Street is above this median.

• FATHIMA NAGAR - Mullai Nagar: Rs 4,400 per sq.ft (2024)
• FATHIMA NAGAR - Marutham street: Rs 4,400 per sq.ft (2024)
• FATHIMA NAGAR - Kurunji Street: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in FATHIMA NAGAR - Neithal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers FATHIMA NAGAR - Neithal Street?

The FATHIMA NAGAR - Neithal Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process is based on a fair valuation of the property being transferred.

Frequently asked questions

What is the current guideline value for FATHIMA NAGAR - Neithal Street?

The current guideline value for FATHIMA NAGAR - Neithal Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 524 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 740% over the years.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers FATHIMA NAGAR - Neithal Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Are there other streets with the same guideline value?

Yes, there are other streets in Valasaravakkam with the same guideline value of Rs 4,400 per sq.ft, including FATHIMA NAGAR - Mullai Nagar, FATHIMA NAGAR - Marutham street, and FATHIMA NAGAR - Kurunji Street.