Guideline Value for NETHAJI NAGAR MAIN ROAD

Nethaji Nagar Main Road guideline value

The current guideline value of Nethaji Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Nethaji Nagar Main Road has changed

The guideline value for Nethaji Nagar Main Road has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,000 per sq.ft. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Nethaji Nagar Main Road.

• Nethaji Nagar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Nethaji Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,800 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 Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Main Road?

The Nethaji Nagar Main Road 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 critical factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to property sales and purchases.

When a property is bought or sold, the registration office will use the guideline value to calculate the necessary fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nethaji Nagar Main Road?

The current guideline value of Nethaji Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft property, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Nethaji Nagar Main Road?

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

What is the land classification for Nethaji Nagar Main Road?

Nethaji Nagar Main Road is classified as Residential Class II Type - I, indicating its suitability for residential development.