Guideline Value for NETHAJI NAGAR

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - III.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a rise of 1,100%. However, the value then decreased to Rs 402 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision saw the value increase to Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision at Rs 1,002 per sq.ft.

There are no figures available for the revisions in 2002 and 2003. From 2017 to 2023, the guideline value increased by 149%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 1,904% in the guideline value.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with a median value of Rs 1,002 per sq.ft. Nethaji Nagar's 2024 figure is equal to this median.

• Nehru Nagar: Rs 1,002 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)
• M.R.B. Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Manali New Town (T N H B & C M D A): 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 guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total fees together to Rs 90,180. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Sadayankuppam

The guideline value is a crucial factor in property transactions in Sadayankuppam. It serves as a benchmark for determining the minimum value of a property during registration. Buyers and sellers must consider this value when negotiating sale prices, as it directly influences the stamp duty and registration fees payable.

When registering a property, the guideline value is used to calculate the applicable duties and fees. It is essential for both parties to be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 50 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, which is an overall increase of 1,904%.

What is the land classification for Nethaji Nagar?

Nethaji Nagar falls under the land classification of 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 stamp duty calculated in Nethaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 10,02,000, the stamp duty would be Rs 70,140 at 7%.