Guideline Value for NETTAL GARDEN 1ST LANE

Nettal Garden 1st Lane guideline value

The current guideline value of Nettal Garden 1st Lane is Rs 5,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nettal Garden 1st Lane has changed

The guideline value for Nettal Garden 1st Lane has seen significant changes over the years. In 2002, the value was Rs 401 per sq.ft, which increased to Rs 477 per sq.ft in 2003, marking a 19% rise. By 2007, the value jumped to Rs 700 per sq.ft, a 47% increase from the previous revision. The value remained at Rs 5,000 per sq.ft in both 2012 and 2023, indicating no change during this period. The most recent revision in 2024 saw a further increase to Rs 5,400 per sq.ft, reflecting an 8% rise from the 2023 figure.

Overall, from 2002 to 2024, the guideline value has increased by 1247%. Notably, there is no figure available for the year 2017 in the register for this street.

Guideline values in Perambur

In Perambur village, the guideline values vary significantly, with the 2024 figures ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Nettal Garden 1st Lane above this median.

• 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)
• Nethaji Street: Rs 3,200 per sq.ft (2024)
• New Farrons Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nettal Garden 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,400 per sq.ft, the total guideline value amounts to Rs 54,00,000. The stamp duty at 7% would be Rs 3,78,000, and the registration fee at 2% would be Rs 1,08,000, bringing the total cost for these fees to Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nettal Garden 1st Lane?

Nettal Garden 1st Lane falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Perambur. It is the basis for calculating the stamp duty and registration fees that are required during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the minimum value on which stamp duty is calculated. This ensures that the government receives appropriate revenue from property transactions, reflecting the official value of the property as per the registry.

Frequently asked questions

What is the current guideline value of Nettal Garden 1st Lane?

The current guideline value of Nettal Garden 1st Lane is Rs 5,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 401 per sq.ft to Rs 5,400 per sq.ft in 2024, marking an overall increase of 1247%.

What are the stamp duty and registration fees for a property in Nettal Garden 1st Lane?

For a property valued at Rs 54,00,000, the stamp duty would be Rs 3,78,000 and the registration fee would be Rs 1,08,000, totaling Rs 4,86,000.

Which Sub Registrar Office covers Nettal Garden 1st Lane?

The Purasaivakkam Sub Registrar Office covers Nettal Garden 1st Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Nettal Garden 1st Lane?

Nettal Garden 1st Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.