Guideline Value for Netaji Nagar

Netaji Nagar guideline value

The current guideline value of Netaji Nagar, located in Anakaputhur village under the Pammal SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Netaji Nagar has changed

The guideline value of Netaji Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 256 per sq.ft. This increased to Rs 350 per sq.ft in 2007, representing a growth of 37%. The value then surged to Rs 1,072 per sq.ft in 2017, marking a remarkable increase of 206%. By 2023, the value further rose to Rs 1,600 per sq.ft, which was a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 1,760 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 588%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Netaji Nagar is below this median.

• Nesamani Street: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 1,760 per sq.ft (2024)
• Natarajan Street (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• NorthRatha Veethi: Rs 1,760 per sq.ft (2024)
• Narasimma Chetty Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Netaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty is charged at 7%, which amounts to Rs 1,23,200, and the registration fee is 2%, totaling Rs 35,200. Together, the total cost for stamp duty and registration fee would be Rs 1,58,400. 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 further assistance.

Which Sub Registrar Office covers Netaji Nagar?

The Sub Registrar Office that covers Netaji Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Anakaputhur, the guideline value is a crucial factor in the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Netaji Nagar?

The current guideline value of Netaji Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 256 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, showing an overall increase of 588% over this period.

What are the stamp duty and registration fees for property in Netaji Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,58,400.

Which office handles registrations for Netaji Nagar?

The Pammal Sub Registrar Office handles registrations for Netaji Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a reference point for property transactions and taxation.