Guideline Value for NETHAJI NAGAR SOUTH LANE

Nethaji Nagar South Lane guideline value

The current guideline value of Nethaji Nagar South Lane 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 South Lane has changed

The guideline value for Nethaji Nagar South Lane has seen significant changes over the years. In 2002, the guideline value was Rs 741 per sq.ft, which increased to Rs 820 per sq.ft in 2003, marking a rise of 11%. The value then saw a substantial increase to Rs 1,300 per sq.ft in 2007, reflecting a growth of 59%. Following this, the value surged dramatically to Rs 9,000 per sq.ft in 2012, an increase of 592%. However, it dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 9,000 per sq.ft in 2023, before reaching the current figure of Rs 9,900 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,236%. There are no revision figures for this street in the years not mentioned.

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 is Rs 9,900 per sq.ft, which is the same as the current value for Nethaji Nagar South Lane.

• Nethaji Nagar North Street: 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 South Lane

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 8,91,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Nagar South Lane?

The Sub Registrar Office that covers Nethaji Nagar South Lane 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 an essential factor in the registration process for property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nethaji Nagar South Lane?

The current guideline value of Nethaji Nagar South Lane is Rs 9,900 per sq.ft, effective from 1 July 2024.

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, reflecting an overall increase of 1,236% over this period.

What is the land classification for Nethaji Nagar South Lane?

The land classification for Nethaji Nagar South Lane is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty rates applicable in Nethaji Nagar South Lane?

The stamp duty rate for property transactions in Nethaji Nagar South Lane is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nethaji Nagar South Lane?

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