Guideline Value for NETHAJI AVENUE

Nethaji Avenue guideline value

The current guideline value of Nethaji Avenue, located in Ponneri_2 village under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Nethaji Avenue has changed

The guideline value for Nethaji Avenue has seen several revisions over the years. As per the available register, there are no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 600 per sq.ft, which increased by 17% to Rs 700 per sq.ft in the 2024 revision.

This increase reflects the current valuation trends in the area. The 2024 figure of Rs 700 per sq.ft is in line with the median value of Rs 700 per sq.ft for the 75 streets in Ponneri_2 under the Ponneri SRO.

Guideline values in Ponneri_2

Ponneri_2 village features a range of guideline values, with figures for 2024 ranging from Rs 700 to Rs 1,300 per sq.ft. Nethaji Avenue's 2024 guideline value of Rs 700 per sq.ft is equal to the median value of the area. Below are other streets in Ponneri_2:

• Nethaji Nagar: Rs 700 per sq.ft (2024)
• New Kacheri Street: Rs 702 per sq.ft (2024)
• Neeli Appadurai Mudali St: Rs 1,200 per sq.ft (2024)
• Narayani Nagar: Rs 700 per sq.ft (2024)
• Narayani Appartment: Rs 700 per sq.ft (2024)
• Perumal Kovil Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Avenue?

The Sub Registrar Office that covers Nethaji Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor in the registration process when buying or selling property in Ponneri_2. It serves as the benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value helps determine the official valuation of the property, ensuring that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Nethaji Avenue?

The current guideline value of Nethaji Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nethaji Avenue was Rs 600 per sq.ft in 2023, which increased to Rs 700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Nethaji Avenue?

Nethaji Avenue falls under the Residential Class II Type - I land classification, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Nethaji Avenue?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 7,00,000, the total fees would amount to Rs 63,000.

Where is the Sub Registrar Office for Nethaji Avenue located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registrations for properties in the area.