Guideline Value for NETHAJI STREET

Nethaji Street guideline value

The current guideline value of Nethaji Street in Chitthalapakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Nethaji Street has changed

The guideline value of Nethaji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, there has been an overall increase of 9%. Notably, the changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. There are no registered figures for Nethaji Street for the years 2002, 2003, and 2007.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, indicating that Nethaji Street's 2024 figure is below this median.

• N.S.K. Street: Rs 2,900 per sq.ft (2024)
• Ottiambakkam Sithalapakkam Main Road: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Mullai Nagar: Rs 2,900 per sq.ft (2024)
• Palm Avenue: Rs 3,300 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 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees together to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions.

During the registration process, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the guideline value to understand the financial obligations associated with property transactions in Chitthalapakkam.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification of Nethaji Street?

Nethaji Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,16,000.

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

The Selaiyur Sub Registrar Office covers Nethaji Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. You can find more information about your SRO through the provided link.