Guideline Value for Netaji Street

Netaji Street guideline value

The current guideline value of Netaji Street in Menambedu village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class II Type - I.

How the guideline value of Netaji Street has changed

Over the years, the guideline value of Netaji Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. The value increased significantly to Rs 1,200 per sq.ft in the 2023 revision, and currently, it stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw an 8% rise. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, placing Netaji Street's 2024 figure above that median.

• Nehru Street: Rs 1,300 per sq.ft (2024)
• New Building Colony: Rs 1,300 per sq.ft (2024)
• Nirmal Nagar: Rs 1,002 per sq.ft (2024)
• Narayanan Street: Rs 1,300 per sq.ft (2024)
• Narayanan Nagar - 1st Street: Rs 1,002 per sq.ft (2024)
• Narayanan Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Netaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Netaji Street?

The Sub Registrar Office covering Netaji Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Menambedu. It determines the minimum price at which a property can be registered, impacting the stamp duty and registration fees payable by the buyer.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, which is essential for legal and taxation purposes. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Netaji Street?

The current guideline value of Netaji Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Netaji Street?

Netaji Street is classified as Residential Class II Type - I according to the guideline value register.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. This is based on a 1,000 sq.ft plot at the current guideline value.

Where can I find the Sub Registrar Office for Netaji Street?

The Sub Registrar Office for Netaji Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.