Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is part of Ponneri_2 village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 600 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +17%.

Thus, the most recent revision reflects an increase from Rs 600 per sq.ft in 2023 to Rs 700 per sq.ft in 2024. The current value aligns with the median guideline value for Ponneri_2, which ranges from Rs 700 to Rs 1,300 per sq.ft.

Guideline values in Ponneri_2

Nethaji Nagar's guideline value of Rs 700 per sq.ft is equal to the median value for the 75 streets in Ponneri_2 under the Ponneri SRO. The following are the guideline values for other streets in Ponneri_2:

• Nethaji Avenue: Rs 700 per sq.ft (2024)
• New Kacheri Street: Rs 702 per sq.ft (2024)
• Neeli Appadurai Mudali St: Rs 1,200 per sq.ft (2024)
• Narayani Nagar: Rs 700 per sq.ft (2024)
• Narayani Appartment: Rs 700 per sq.ft (2024)
• Perumal Kovil Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Nagar?

The Sub Registrar Office that covers Nethaji Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ponneri_2

The guideline value is a crucial factor during the registration of property transactions in Ponneri_2. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property in Nethaji Nagar, the guideline value will be referenced to determine the applicable charges. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, reflecting a +17% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Nethaji Nagar?

Nethaji Nagar is classified as Residential Class II Type - I, indicating its use for residential purposes within the Ponneri_2 village.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 63,000 in fees based on the current guideline value.

Where is the Sub Registrar Office for Nethaji Nagar located?

The Sub Registrar Office for Nethaji Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.