Guideline Value for Neethathasan Street

Neethathasan Street guideline value

The current guideline value of Neethathasan Street in Puzhal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Neethathasan Street has changed

The guideline value for Neethathasan Street has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 275%. However, it decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, representing a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 313%. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, placing Neethathasan Street's 2024 figure above this median.

• Nethaji Subash Chandra Bose Nagar: Rs 1,650 per sq.ft (2024)
• Nethaji Subhash Chandrabose Street: Rs 1,650 per sq.ft (2024)
• New Adhinath Colony: Rs 1,102 per sq.ft (2024)
• New Krishna Nagar: Rs 1,102 per sq.ft (2024)
• New Mahaveer Garden: Rs 1,100 per sq.ft (2024)
• New Sakthivel Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Neethathasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Neethathasan Street?

The Sub Registrar Office that covers Neethathasan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Puzhal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall costs involved in the transaction. Buyers and sellers should always refer to the latest guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Neethathasan Street?

The current guideline value of Neethathasan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313%.

What is the registration office for Neethathasan Street?

The registration office for Neethathasan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Neethathasan Street?

Stamp duty for properties in Neethathasan Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,15,500.

What are the other streets in Puzhal with similar guideline values?

Other streets in Puzhal with similar guideline values include Nethaji Subash Chandra Bose Nagar and Nethaji Subhash Chandrabose Street, both valued at Rs 1,650 per sq.ft in 2024.