Guideline Value for NETHIJI NAGAR EXT.

Nethiji Nagar Ext. guideline value

The current guideline value of Nethiji Nagar Ext. is Rs 330 per sq.ft, effective from 1 July 2024. This property is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Nethiji Nagar Ext. has changed

The guideline value for Nethiji Nagar Ext. has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, and the latest revision in 2024 raised it to Rs 330 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value has been an increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 770 per sq.ft, with a median value of Rs 330 per sq.ft. The guideline value for Nethiji Nagar Ext. matches this median.

• Nethaji Nagar All Phases/Parts: Rs 330 per sq.ft (2024)
• Nethaji Nagar: Rs 330 per sq.ft (2024)
• Navaneetham Nagar: Rs 330 per sq.ft (2024)
• Nadhiya Nagar: Rs 330 per sq.ft (2024)
• Murugan Koil Street: Rs 330 per sq.ft (2024)
• M.J.Muthusubramani Nagar: Rs 627 per sq.ft (2024)

Stamp duty and registration fee for property in Nethiji Nagar Ext.

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees together to Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethiji Nagar Ext.?

The Sub Registrar Office that covers Nethiji Nagar Ext. is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nanthiambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

During the registration of a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nethiji Nagar Ext.?

The current guideline value of Nethiji Nagar Ext. is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification of Nethiji Nagar Ext.?

Nethiji Nagar Ext. is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Nethiji Nagar Ext.?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at 7%.