Guideline Value for Netaji Street / Anna Nagar

Netaji Street / Anna Nagar guideline value

The current guideline value of Netaji Street / Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Netaji Street / Anna Nagar has changed

The guideline value for Netaji Street / Anna Nagar has seen significant changes over the years. The earliest recorded revision was in 2002, with a value of Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 40% increase. Following this, the 2017 revision set the value at Rs 1,675 per sq.ft, which was a substantial 365% increase from 2007. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, a 49% increase from 2017. The latest revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there is no recorded figure for Netaji Street / Anna Nagar in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 1106%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Netaji Street / Anna Nagar's 2024 figure above that median.

• Netaji Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Street /Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Nehru Street / Near Pammal Main Road: Rs 2,530 per sq.ft (2024)
• Nehru Salai/Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nehru Salai/ Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Netaji Street / Anna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Netaji Street / Anna Nagar?

The Sub Registrar Office that covers Netaji Street / Anna Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. The guideline value ensures that the government receives appropriate revenue from property transactions.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Netaji Street / Anna Nagar?

The current guideline value of Netaji Street / Anna Nagar is Rs 2,750 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 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 1106%.

What is the role of the Pammal SRO?

The Pammal SRO is responsible for registering property transactions in the area, ensuring compliance with local regulations and collecting stamp duty and registration fees.

How is stamp duty calculated in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% of the guideline value.

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

Other streets in Pammal include Nehru Street /Sholavaram Nagar at Rs 1,980 per sq.ft, Nehru Street / Near Pammal Main Road at Rs 2,530 per sq.ft, and Nehru Salai/ Anna Nagar at Rs 2,750 per sq.ft.