Guideline Value for Netaji Street / VOC Nagar

Netaji Street / VOC Nagar guideline value

The current guideline value of Netaji Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

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

The guideline value for Netaji Street / VOC Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 185 per sq.ft. This increased to Rs 210 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 360 per sq.ft in 2007, which was a 71% increase. The 2017 revision saw a substantial jump to Rs 1,675 per sq.ft, reflecting a 365% change from the previous figure. The value further increased to Rs 2,500 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from 2023. Notably, the register has no figure for this street in 2012.

Overall, from 2002 to 2024, the guideline value has increased by 1,386%, showcasing a significant upward trend over the years.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Netaji Street / VOC Nagar above this median.

• Netaji Street / Anna 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 / VOC Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Netaji Street / VOC Nagar?

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

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

The guideline value is a crucial factor during property registration in Pammal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are paid based on the correct valuation.

Frequently asked questions

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

The current guideline value of Netaji Street / VOC Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,386%.

What is the land classification for Netaji Street / VOC Nagar?

The land classification for Netaji Street / VOC Nagar is Commercial Class I Type - II.

Where is the Sub Registrar Office for Netaji Street / VOC Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for properties in Pammal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically set at 7% of the guideline value, along with a registration fee of 2%.