Guideline Value

Corporate

Guideline Value for NETHAJI AVENUE EXN. - Nakeerar Street

₹2750/sq.ft.

The guideline value for Nethaji Avenue Exn. - Nakeerar Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹259 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹235 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Nethaji Avenue Exn. - Nakeerar Street

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NETHAJI AVENUE EXN. - Nakeerar Street guideline value

The current guideline value of NETHAJI AVENUE EXN. - Nakeerar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of NETHAJI AVENUE EXN. - Nakeerar Street has changed

The guideline value for NETHAJI AVENUE EXN. - Nakeerar Street has seen several revisions over the years. In 2002, the value was Rs 235 per sq.ft, which increased to Rs 259 per sq.ft in 2003. There was a significant rise to Rs 400 per sq.ft in 2007, followed by a remarkable jump to Rs 2,500 per sq.ft in 2012. However, this value decreased to Rs 1,675 per sq.ft in 2017. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, there was a +10% increase. The value surged by +54% from 2003 to 2007, followed by a staggering +525% increase from 2007 to 2012. The value then dropped by -33% from 2012 to 2017. From 2017 to 2023, the guideline value rose by +49%, and the most recent change from 2023 to 2024 is a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +1070%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, placing NETHAJI AVENUE EXN. - Nakeerar Street above this median.

Stamp duty and registration fee for property in NETHAJI AVENUE EXN. - Nakeerar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NETHAJI AVENUE EXN. - Nakeerar Street?

The Sub Registrar Office that covers NETHAJI AVENUE EXN. - Nakeerar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

When buying or selling property in Nerkundram, the guideline value is a crucial factor during registration. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of NETHAJI AVENUE EXN. - Nakeerar Street?

The current guideline value of NETHAJI AVENUE EXN. - Nakeerar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, from Rs 235 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +1070%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000. The stamp duty is Rs 1,92,500 and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for NETHAJI AVENUE EXN. - Nakeerar Street?

The Virugambakkam Sub Registrar Office is responsible for NETHAJI AVENUE EXN. - Nakeerar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for this street?

NETHAJI AVENUE EXN. - Nakeerar Street is classified as Residential Class III Type - I according to the local land classification regulations.