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 Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

Looking at the revisions, the guideline value for Nethaji Street (Ward -8) has seen several changes over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, marking a drop of 33%. By the 2023 revision, the value increased significantly to Rs 1,200 per sq.ft, and then rose again to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a notable increase of 49% from the 2017 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

Sattamangalam village has a total of 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Nethaji Street (Ward -8) above this median with its current value of Rs 1,320 per sq.ft.

• 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)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 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)

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, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 Street (Ward -8)?

The Sub Registrar Office that covers Nethaji Street (Ward -8) is 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 information.

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

The guideline value is a crucial factor during property registration in Sattamangalam. It serves as the basis for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When buyers and sellers engage in a transaction, the guideline value helps establish a fair price for the property, ensuring transparency in the registration process. It is essential for both parties to be aware of the current guideline value to understand their financial obligations during the sale or purchase.

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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Nethaji Street (Ward -8)?

Nethaji Street (Ward -8) is classified as Residential Special Type - V, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Nethaji Street (Ward -8)?

The Chengleput Joint II Sub Registrar Office covers Nethaji Street (Ward -8) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Nethaji Street (Ward -8)?

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