Guideline Value for NETHAJI NAGAR 1ST - 17TH STREET

Nethaji Nagar 1st - 17th Street guideline value

The current guideline value of Nethaji Nagar 1st - 17th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Nethaji Nagar 1st - 17th Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value among these streets is Rs 2,725 per sq.ft, placing Nethaji Nagar 1st - 17th Street's 2024 figure below that median.

• Nethaji Nagar Main Road: Rs 1,600 per sq.ft (2024)
• Nesamani Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• Nehru Cross Street: Rs 3,300 per sq.ft (2024)
• Nookampalayam Arasan Kalani Main Road: Rs 2,725 per sq.ft (2024)
• Nookampalayam Bharathidasan Street: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar 1st - 17th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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 1st - 17th Street?

The Nethaji Nagar 1st - 17th Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The stamp duty is charged based on the higher of the two values, ensuring compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nethaji Nagar 1st - 17th Street?

The current guideline value of Nethaji Nagar 1st - 17th Street 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Nethaji Nagar 1st - 17th Street?

Nethaji Nagar 1st - 17th Street is classified under Residential Class II Type - II.

What are the stamp duty and registration fees for property 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.

Which office handles the registration for Nethaji Nagar 1st - 17th Street?

The Selaiyur Sub Registrar Office handles the registration for Nethaji Nagar 1st - 17th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.