Guideline Value for NETHAJI STREET

Nethaji Street guideline value

The current guideline value of Nethaji Street in Ekkaduthangal village, under the Chennai South Joint I SRO, is Rs 4,620 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has undergone several revisions over the years. In 2002, the guideline value was Rs 421 per sq.ft. This increased to Rs 486 per sq.ft in 2003, marking a 15% rise. By 2007, the value saw a significant jump to Rs 1,000 per sq.ft, which was an increase of 106%. The value then rose to Rs 4,200 per sq.ft in 2012, reflecting a 320% increase from the previous revision. However, in 2017, the value decreased to Rs 2,814 per sq.ft, a decline of 33%. The most recent revisions show an increase to Rs 4,200 per sq.ft in 2023, followed by a further rise to Rs 4,620 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 997%. There are no figures available for the years not mentioned in this register for Nethaji Street.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value is Rs 4,620 per sq.ft, which is the same as the current guideline value for Nethaji Street.

• Navasakthi Vinayagar Koil Street: Rs 4,620 per sq.ft (2024)
• Navarathna Garden 3rd Main Road: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 3rd Cross St: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 2nd Main Road: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 2nd Cross St: Rs 6,610 per sq.ft (2024)
• Navarathna Garden 1st Main Road: Rs 6,610 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 4,620 per sq.ft, the total guideline value would be Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, making the total fees together Rs 4,15,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Street?

The Sub Registrar Office that covers Nethaji Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area. The guideline value serves as a benchmark for the official valuation of properties, ensuring that the government collects the appropriate taxes during the registration process.

When selling property, the guideline value can influence the sale price, as it reflects the official valuation set by the authorities. Buyers and sellers should be aware of the guideline value to understand the financial implications involved in property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 421 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 997% over the years.

What is the stamp duty rate for properties in Nethaji Street?

The stamp duty rate for properties in Nethaji Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Nethaji Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as an official valuation benchmark for properties in the area.