Guideline Value for NETTAL GARDEN 1ST STREET

Nettal Garden 1st Street guideline value

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

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

The guideline value for Nettal Garden 1st Street has undergone significant changes over the years. The earliest recorded revision in 2007 set the guideline value at Rs 700 per sq.ft. This figure saw a substantial increase to Rs 5,000 per sq.ft in the 2023 revision, marking a rise of 614%. The most recent revision in 2024 further increased the value to Rs 5,400 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017 for Nettal Garden 1st Street. Overall, from 2007 to 2024, the guideline value has increased by 671%.

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. Nettal Garden 1st Street's current value of Rs 5,400 per sq.ft is above this median.

• Nettal Garden 1st Lane: 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 Street

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

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

Which Sub Registrar Office covers Nettal Garden 1st Street?

The Sub Registrar Office that covers Nettal Garden 1st Street is 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 critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 700 per sq.ft in 2007 to Rs 5,400 per sq.ft in 2024, which is an overall increase of 671%.

What is the stamp duty rate for properties in Nettal Garden 1st Street?

The stamp duty rate for properties in Nettal Garden 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nettal Garden 1st Street?

The Sub Registrar Office covering Nettal Garden 1st Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values of other streets in Perambur?

Other streets in Perambur have varying guideline values, with Nettal Garden 1st Lane, 2nd Lane, 2nd Street, and Nettal Garden Street all at Rs 5,400 per sq.ft. Nethaji Street is valued at Rs 3,200 per sq.ft, and New Farrons Road at Rs 3,800 per sq.ft.