Guideline Value for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam)

NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) guideline value

The current guideline value for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% rise from the previous year. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

The register has no figures for the years 2002, 2003, 2007, and 2017. Therefore, the only revisions that reflect changes in guideline value are from 2012, 2023, and 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) is below this median.

• Nethaji Nagar (S.S.Garden): Rs 2,900 per sq.ft (2024)
• Nethaji Nagar (S.No.213): Rs 1,600 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.647, 654) (Kallikuppam)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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 fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam)?

The Sub Registrar Office that covers NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 plays a crucial role in the registration process of property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value is considered the minimum value for the property, and the stamp duty is calculated based on this 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.647, 654) (Kallikuppam)?

The current guideline value of NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) 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 seen a change from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, which is a 7% increase. There was no change in the value from 2012 to 2023.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam)?

The Villivakkam Sub Registrar Office is responsible for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam)?

The land classification for NETHAJI NAGAR (S.NO.647, 654) (Kallikuppam) is Residential Class III Type - III, indicating its suitability for residential development.