Guideline Value for NETHAJI NAGAR (S.NO.213)

Nethaji Nagar (S.No.213) guideline value

The current guideline value of Nethaji Nagar (S.No.213) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class III Type - III.

How the guideline value of Nethaji Nagar (S.No.213) has changed

The guideline value for Nethaji Nagar (S.No.213) has seen several revisions over the years. In 2007, the guideline value was Rs 375 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 300% rise. The value remained unchanged at Rs 1,500 per sq.ft until the 2023 revision, which set it at Rs 1,600 per sq.ft, reflecting a 7% increase.

Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 327%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that Nethaji Nagar (S.No.213) is below this median.

• NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Nethaji Nagar (S.S.Garden): Rs 2,900 per sq.ft (2024)
• Nethaji Nagar (Madanakuppam): Rs 1,300 per sq.ft (2024)
• National High Ways Road: Rs 2,900 per sq.ft (2024)
• North Pillayar Koil 3rd Cross Street: Rs 2,100 per sq.ft (2024)
• North Railway Station Road Chennai - 76: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar (S.No.213)

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 to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nethaji Nagar (S.No.213)?

Nethaji Nagar (S.No.213) is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is essential during property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the buyer pays stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Nagar (S.No.213)?

The current guideline value of Nethaji Nagar (S.No.213) 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 375 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, a total increase of 327% over the years.

Which Sub Registrar Office is responsible for Nethaji Nagar (S.No.213)?

The Villivakkam Sub Registrar Office is responsible for Nethaji Nagar (S.No.213), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in Nethaji Nagar (S.No.213)?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

What is the median guideline value in Korattur?

The median guideline value for streets in Korattur is Rs 2,500 per sq.ft, which is higher than the current value of Nethaji Nagar (S.No.213).