Guideline Value for Nethaji 1st Street

Nethaji 1st Street guideline value

The current guideline value of Nethaji 1st Street in Chembakkam village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Nethaji 1st Street has changed

The guideline value for Nethaji 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft from the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 8% in the guideline value.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Nethaji 1st Street's 2024 figure above this median.

• Nethaji 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Nethaji 2nd Street: Rs 2,700 per sq.ft (2024)
• Nethaji Ist Cross Street: Rs 2,700 per sq.ft (2024)
• Nesamani Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Nesamani Nagar: Rs 3,800 per sq.ft (2024)
• Nethaji Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji 1st Street?

The Sub Registrar Office that covers Nethaji 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a critical factor used during property registration in Chembakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and helps in avoiding undervaluation during the sale process.

Frequently asked questions

What is the current guideline value of Nethaji 1st Street?

The current guideline value of Nethaji 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value for streets in Chembakkam is Rs 2,200 per sq.ft, which is lower than the current value of Nethaji 1st Street.

What are the stamp duty and registration fees for properties in Nethaji 1st Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total cost would be Rs 2,43,000.

Which Sub Registrar Office should I contact for Nethaji 1st Street?

The Selaiyur Sub Registrar Office covers Nethaji 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.