Guideline Value for NETTAL GARDEN 2ND STREET

Nettal Garden 2nd Street guideline value

The current guideline value of Nettal Garden 2nd Street is Rs 5,400 per sq.ft. 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 2nd Street has changed

The guideline value for Nettal Garden 2nd Street has seen significant changes over the years. In 2002, the value was Rs 435 per sq.ft, which increased to Rs 477 per sq.ft in 2003, marking a 10% rise. The value continued to rise to Rs 700 per sq.ft in 2007, reflecting a 47% increase from the previous year. By 2017, the guideline value had surged to Rs 3,350 per sq.ft, representing a remarkable 379% increase from 2007. The 2023 revision set the value at Rs 5,000 per sq.ft, which was a 49% increase from 2017.

The most recent revision in 2024 has set the guideline value at Rs 5,400 per sq.ft, an 8% increase from 2023. It is important to note that there is no figure available for this street in the 2012 revision.

Guideline values in Perambur

In Perambur village, there are 1114 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 2nd Street's 2024 figure is above this median.

• Nettal Garden 2nd Lane: Rs 5,400 per sq.ft (2024)
• Nettal Garden Street: Rs 5,400 per sq.ft (2024)
• Nettal Garden 1st Street: Rs 5,400 per sq.ft (2024)
• Nettal Garden 1st Lane: 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 2nd 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 to Rs 4,86,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nettal Garden 2nd Street?

The Sub Registrar Office that covers Nettal Garden 2nd 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 plays a crucial role during the registration of property transactions in Perambur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property.

When property is sold, the guideline value is considered to ensure that the transaction is registered at a value that reflects the established rates in the area. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Nettal Garden 2nd Street?

The current guideline value of Nettal Garden 2nd Street is Rs 5,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 435 per sq.ft in 2002 to Rs 5,400 per sq.ft in 2024, marking an overall increase of 1141% over the years.

What is the land classification of Nettal Garden 2nd Street?

Nettal Garden 2nd Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Nettal Garden 2nd Street?

The Sub Registrar Office for Nettal Garden 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 54,00,000, the stamp duty at 7% would be Rs 3,78,000.