Guideline Value for NETHARAJI STREET (CHEN)

Netharaji Street (Chen) guideline value

The current guideline value of Netharaji Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village, under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Netharaji Street (Chen) has changed

The guideline value of Netharaji Street (Chen) has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 600 per sq.ft. This was followed by a decrease to Rs 402 per sq.ft in 2017. The value then increased to Rs 600 per sq.ft in 2023, and finally rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, positioning Netharaji Street (Chen) below this median.

• Narasinga Puram Colony (Chen): Rs 1,100 per sq.ft (2024)
• Mullai Nagar: Rs 1,320 per sq.ft (2024)
• Parasakthi Nagar Part C (Chen): Rs 1,100 per sq.ft (2024)
• Parthasarathi Nagar (Chen): Rs 880 per sq.ft (2024)
• Periya Chenkundram (Chen): Rs 660 per sq.ft (2024)
• Mettu Street (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Netharaji Street (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Netharaji Street (Chen)?

The Sub Registrar Office that covers Netharaji Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is an essential factor in the registration process when buying or selling property in Sengundram - 1. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Netharaji Street (Chen)?

The current guideline value of Netharaji Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the other streets in Sengundram - 1 and their guideline values?

Other streets in Sengundram - 1 include Narasinga Puram Colony at Rs 1,100 per sq.ft, Mullai Nagar at Rs 1,320 per sq.ft, and Parthasarathi Nagar at Rs 880 per sq.ft, among others.

What is the stamp duty rate for properties in Netharaji Street (Chen)?

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

Where can I find the Sub Registrar Office for Netharaji Street (Chen)?

The Sub Registrar Office for Netharaji Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.