Guideline Value for NETTERI ROAD

Netteri Road guideline value

The current guideline value of Netteri Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Kanchipuram Town village under the Kanchipuram Joint I SRO, classified as Residential Class III Type - III.

How the guideline value of Netteri Road has changed

The guideline value for Netteri Road has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 300% rise. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, a 49% increase, before reaching the current figure of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Netteri Road in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Kanchipuram Town

In Kanchipuram Town, there are 85 streets under the Kanchipuram Joint I SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the current figure for Netteri Road below that median.

• Nellukara Street(Or) Annani Indira Gandhi Salai: Rs 5,500 per sq.ft (2024)
• Nimandakara Ottha Vadai Street: Rs 1,650 per sq.ft (2024)
• North Krishnan Street: Rs 1,100 per sq.ft (2024)
• Olimugamadhupettai Road Street (A) Vellore Road: Rs 1,100 per sq.ft (2024)
• Olimugamadupet Road Street(Or)arrakonam Road: Rs 1,100 per sq.ft (2024)
• Nagareeswarar Kovil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Netteri Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Netteri Road?

The Sub Registrar Office that covers Netteri Road is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Kanchipuram Town. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buyers and sellers agree on a sale price, the registration office will assess the guideline value to determine the applicable duties. If the sale price is higher than the guideline value, the duties will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Netteri Road?

The current guideline value of Netteri Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the stamp duty rate for properties on Netteri Road?

The stamp duty rate for properties on Netteri Road is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Netteri Road?

The Sub Registrar Office for Netteri Road is the Kanchipuram Joint I Sub Registrar Office, located at No.52 Orikkai Madura, Udhayamangalam Village, Near Anna Kudiyiruppu, Kanchipuram -631502, Chengalpattu registration zone.

What is the median guideline value for streets in Kanchipuram Town?

The median guideline value for streets in Kanchipuram Town is Rs 1,650 per sq.ft, while Netteri Road's current value is below this median at Rs 1,100 per sq.ft.