Guideline Value for NETHAJI STREET (WARD -8)

Nethaji Street (Ward -8) guideline value

The current guideline value of Nethaji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Nethaji Street (Ward -8) has changed

The guideline value for Nethaji Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,200 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no recorded figures for Nethaji Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kattankollatur

Kattankollatur has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that Nethaji Street's 2024 figure is above this median.

• New Balaji Nagar Barathiar Street (Ward -3): Rs 990 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,320 per sq.ft (2024)
• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Nanthanar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Street (Ward -8)?

Nethaji Street (Ward -8) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Street (Ward -8)?

The current guideline value of Nethaji Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2024 revision set at Rs 1,320 per sq.ft, an increase of 10% from the 2023 figure of Rs 1,200 per sq.ft. The value has also increased from Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Nethaji Street?

Nethaji Street is classified as Residential Special Type - V. This classification is important for determining the uses permitted on the property.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations in the area.

How is stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would amount to Rs 92,400.