Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Nethaji Nagar has changed

Since the year 2002, the guideline value has seen significant changes. The value started at Rs 31 per sq.ft in 2002, which increased to Rs 36 per sq.ft in 2003, marking a rise of 16%. By 2007, the value jumped to Rs 50 per sq.ft, a 39% increase. The most substantial change occurred in 2012 when the value rose to Rs 300 per sq.ft, reflecting a remarkable 500% increase. However, in 2017, the value decreased to Rs 201 per sq.ft, which was a drop of 33%. The value then increased to Rs 300 per sq.ft in 2023, followed by a further increase to Rs 330 per sq.ft in 2024, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 965%. The revisions from 2017 to 2023 showed a significant increase of 49%, while the transition from 2012 to 2017 reflected a decrease. It is important to note that there are no figures available for the years not mentioned in the register for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the current guideline value of Nethaji Nagar.

• Nethaji Nagar All Phases/Parts: Rs 330 per sq.ft (2024)
• Nethiji Nagar Ext.: Rs 330 per sq.ft (2024)
• Navaneetham Nagar: Rs 330 per sq.ft (2024)
• Nadhiya Nagar: Rs 330 per sq.ft (2024)
• Murugan Koil Street: Rs 330 per sq.ft (2024)
• M.J.Muthusubramani Nagar: Rs 627 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, resulting in a total of Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Nagar?

The Sub Registrar Office that covers Nethaji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nanthiambakkam, as it determines the minimum value at which a property can be registered. Buyers must consider the guideline value when negotiating the sale price, as stamp duty and registration fees are calculated based on this value.

When a property is sold, the seller must ensure that the sale price is equal to or above the guideline value to comply with registration requirements. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 31 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 965% over this period.

What is the land classification for Nethaji Nagar?

The land classification for Nethaji Nagar is Residential Special Type - II.

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

The Sub Registrar Office for Nethaji Nagar 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 at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100.