Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar in Padappai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of Nethaji Nagar has changed

The guideline value of Nethaji Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 raised the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. Nethaji Nagar's 2024 guideline value is significantly above this median.

• Navasakthi Nagar: Rs 1,320 per sq.ft (2024)
• N.G.O. Colony: Rs 1,320 per sq.ft (2024)
• N.S.K.Street: Rs 830 per sq.ft (2024)
• Officers Colony: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar Phase II: Rs 830 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 charges to 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 detailed calculations.

Which Sub Registrar Office covers Nethaji Nagar?

Nethaji Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property registration in Padappai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When selling property, the guideline value helps both buyers and sellers understand the official valuation set by the government, ensuring that transactions are conducted transparently and fairly.

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 much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking a total increase of 64% over the seven years.

What are the stamp duty and registration fees for property in Nethaji Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total charges would be Rs 2,97,000.

Which Sub Registrar Office covers Nethaji Nagar?

The Padappai Sub Registrar Office covers Nethaji Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Nethaji Nagar?

Nethaji Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.