Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has undergone several revisions since 2007. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1000%. The register has no figures for Nethaji Nagar for the years 2002 and 2003.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. Nethaji Nagar's 2024 figure aligns with this median.

• New Bhuvaneswari Nagar: Rs 1,100 per sq.ft (2024)
• Nehruji Nagar: Rs 1,100 per sq.ft (2024)
• Omakula Street: Rs 1,100 per sq.ft (2024)
• Om Sakthi Kaligambal Co-Operative Nagar: Rs 2,200 per sq.ft (2024)
• Om Sakthi Kaligambal Co-Operative Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Pada Salai Road: Rs 1,100 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 of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 specific calculations.

Which Sub Registrar Office covers Nethaji Nagar?

The Sub Registrar Office covering Nethaji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Matthur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to ensure compliance with the legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the land classification of Nethaji Nagar?

Nethaji Nagar is classified as Residential Special Type - III.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.