Guideline Value for NETHAJI NAGAR & EXT I&II

Nethaji Nagar & Ext I&ii guideline value

The current guideline value for Nethaji Nagar & Ext I&ii is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Nethaji Nagar & Ext I&ii has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Nethaji Nagar & Ext I&ii.

• New Padmavathy City: Rs 550 per sq.ft (2024)
• Nehru Nagar: Rs 550 per sq.ft (2024)
• North Street: Rs 550 per sq.ft (2024)
• Narasimha Avenue(Phase I&ii): Rs 880 per sq.ft (2024)
• Nandhiyam Pakkam Road: Rs 550 per sq.ft (2024)
• Om Shakthi Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar & Ext I&ii

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total charges Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nethaji Nagar & Ext I&ii?

The Nethaji Nagar & Ext I&ii area falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial component in the registration process of property transactions in Minjur. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value serves as a benchmark for calculating the associated costs. This ensures that the fees are consistent and based on the officially recognized value of the property in the area.

Frequently asked questions

What is the current guideline value for Nethaji Nagar & Ext I&ii?

The current guideline value for Nethaji Nagar & Ext I&ii is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Nethaji Nagar & Ext I&ii?

Nethaji Nagar & Ext I&ii is classified as Residential Class II Type - I. This classification is important for understanding the zoning and usage of the land.

Where can I find the Ponneri Sub Registrar Office?

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

How is stamp duty calculated for properties in Nethaji Nagar & Ext I&ii?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 550 per sq.ft would incur a total guideline value of Rs 5,50,000.