Guideline Value for NETHAJI NAGAR NORTH STREET

Nethaji Nagar North Street guideline value

The current guideline value of Nethaji Nagar North Street is Rs 9,900 per sq.ft. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nethaji Nagar North Street has changed

The guideline value for Nethaji Nagar North Street has undergone several revisions over the years. In 2002, the guideline value was Rs 741 per sq.ft. This figure increased to Rs 820 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 1,300 per sq.ft in 2007, reflecting a 59% increase. By 2012, the guideline value was Rs 9,000 per sq.ft, which was a substantial increase of 592% from 2007. However, it then decreased to Rs 6,030 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 9,000 per sq.ft, and the latest revision in 2024 set it at Rs 9,900 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1236%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value among these streets is Rs 9,900 per sq.ft, which aligns with the guideline value of Nethaji Nagar North Street.

• Nethaji Nagar South Lane: Rs 9,900 per sq.ft (2024)
• Nethaji Street: Rs 9,900 per sq.ft (2024)
• New Beach Road Besant Nagar: Rs 12,650 per sq.ft (2024)
• New Beach Road (Thiruvalluvar Nagar): Rs 12,660 per sq.ft (2024)
• New Beach Road Valmeegi Nagar: Rs 12,660 per sq.ft (2024)
• New Mahabalipuram Road: Rs 12,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Nagar North Street?

The Sub Registrar Office that covers Nethaji Nagar North Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in this area.

When a property is sold, the buyer must ensure that the transaction is registered at the Sub Registrar Office. The guideline value helps in calculating the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Nethaji Nagar North Street?

The current guideline value of Nethaji Nagar North Street is Rs 9,900 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 741 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, representing an overall increase of 1236% over this period.

What is the land classification for Nethaji Nagar North Street?

Nethaji Nagar North Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for Nethaji Nagar North Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Nethaji Nagar North Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.