Guideline Value for NETHAJI STREET

Nethaji Street guideline value

The current guideline value of Nethaji Street in Perambur village, under the Purasaivakkam SRO, is Rs 3,200 per sq.ft, effective from 1 July 2024. This street falls under Residential Class III Type - I land classification.

How the guideline value of Nethaji Street has changed

The guideline value of Nethaji Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 420 per sq.ft. It increased to Rs 461 per sq.ft in 2003, which was a 10% rise. The value then rose by 30% to Rs 600 per sq.ft in 2007. Following this, a significant increase of 400% occurred, bringing the value to Rs 3,000 per sq.ft in 2012. There was no change in the value from 2012 to 2023, where it remained at Rs 3,000 per sq.ft. The latest revision in 2024 saw an increase of 7%, setting the current guideline value at Rs 3,200 per sq.ft.

It is important to note that there is no figure available for Nethaji Street in the 2017 revision.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Nethaji Street's 2024 guideline value is above this median.

• Nettal Garden 1st Lane: Rs 5,400 per sq.ft (2024)
• Nettal Garden 1st Street: Rs 5,400 per sq.ft (2024)
• Nettal Garden 2nd Lane: Rs 5,400 per sq.ft (2024)
• Nettal Garden 2nd Street: Rs 5,400 per sq.ft (2024)
• Nettal Garden Street: Rs 5,400 per sq.ft (2024)
• Nesavalar Colony North Avenue: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perambur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value will be considered for calculating the stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations and to avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Nethaji Street has increased from Rs 420 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 662% over the years.

What is the land classification for Nethaji Street?

Nethaji Street falls under Residential Class III Type - I land classification.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nethaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 at a rate of 7%.