Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - II.

How the guideline value of Nethaji Nagar has changed

Over the years, the guideline value of Nethaji Nagar has seen several revisions. The 2012 revision recorded a guideline value of Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the current 2024 revision further raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value rose by 49%. From the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Nethaji Nagar.

• Nehru Street: Rs 3,300 per sq.ft (2024)
• New India Colony: Rs 3,900 per sq.ft (2024)
• Nehru Nagar 5th Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 4th Street: Rs 5,500 per sq.ft (2024)
• New India Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• New India Colony 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Nagar?

The Nethaji Nagar area is covered by 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 further assistance.

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

The guideline value is a crucial factor during property registration in Perungudi. It determines the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the legitimacy of the transaction and ensures compliance with local regulations regarding property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar 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 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Nethaji Nagar?

Nethaji Nagar is classified as Residential Class II Type - II, which indicates its suitability for residential development.

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 stamp duty calculated for property in Nethaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000.