Guideline Value for NETHAJI NAGAR 3RD CROSS STREET

Nethaji Nagar 3rd Cross Street guideline value

The current guideline value of Nethaji Nagar 3rd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Nethaji Nagar 3rd Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure saw a decrease of 33% to Rs 1,675 per sq.ft in the 2017 revision. Following this, there was a significant increase of 49%, bringing the value up to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 has further increased the guideline value to Rs 2,800 per sq.ft, marking a rise of 12% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which means Nethaji Nagar 3rd Cross Street's 2024 figure is below that median.

• Nethaji Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Netaji Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar Road: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 28,00,000, the stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Nagar 3rd Cross Street?

The Nethaji Nagar 3rd Cross Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. It serves as the basis for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Nagar 3rd Cross Street?

The current guideline value of Nethaji Nagar 3rd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Nethaji Nagar 3rd Cross Street?

Nethaji Nagar 3rd Cross Street is classified as Residential Class II Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Nethaji Nagar 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,96,000.