Guideline Value for NETHAJI STREET

Nethaji Street guideline value

The current guideline value for Nethaji Street in Thiruvanmiyur village is Rs 9,900 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I 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 2012, the value was set at Rs 9,000 per sq.ft, which decreased to Rs 6,030 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value rose significantly by 49%, reaching Rs 9,000 per sq.ft. The most recent revision in 2024 has increased the value to Rs 9,900 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for Nethaji Street in the revisions of 2002, 2003, and 2007.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which is equal to the current value for Nethaji Street.

• Nethaji Nagar South Lane: Rs 9,900 per sq.ft (2024)
• Nethaji Nagar North Street: Rs 9,900 per sq.ft (2024)
• New Beach Road Besant Nagar: Rs 12,650 per sq.ft (2024)
• New Beach Road (Thiruvalluvar Nagar): Rs 12,660 per sq.ft (2024)
• New Beach Road Valmeegi Nagar: Rs 12,660 per sq.ft (2024)
• New Mahabalipuram Road: Rs 12,650 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 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total to Rs 8,91,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 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 information.

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

The guideline value is a crucial factor when buying or selling property in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then increased to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the land classification for Nethaji Street?

Nethaji Street is classified as Residential Class I Type - I according to the local land classification regulations.

What is the registration office for Nethaji Street?

The registration 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 stamp duty calculated for properties in Nethaji Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 99,00,000 would incur a stamp duty of Rs 6,93,000 at a rate of 7%.