Guideline Value for NETHAJI STREET

Nethaji Street guideline value

The current guideline value of Nethaji Street in Thiruvancheri village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,100 per sq.ft.

In terms of changes, the guideline value increased by 10% from 2023 to 2024. Between 2017 and 2023, there was a significant rise of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. Nethaji Street's 2024 guideline value is below this median.

• Nehru Street: Rs 1,980 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)
• Parvathi Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring appropriate tax collection. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street 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 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Nethaji Street?

Nethaji Street is classified as Residential Class III Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Nethaji Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Nethaji Street located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.