Guideline Value for Nethaji 2nd Cross Street

Nethaji 2nd Cross Street guideline value

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

How the guideline value of Nethaji 2nd Cross Street has changed

Over the years, the guideline value of Nethaji 2nd Cross Street has seen several revisions. The 2007 revision set the value at Rs 450 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value decreased by 33% to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision marked a substantial increase, raising the value to Rs 2,500 per sq.ft, and the latest 2024 revision further increased it to Rs 2,700 per sq.ft, reflecting an 8% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 500%.

Guideline values in Chembakkam

In Chembakkam village, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, positioning Nethaji 2nd Cross Street above this median.

• Nethaji 1st 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 2nd Cross 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, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji 2nd Cross Street?

The Nethaji 2nd Cross Street falls under 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 crucial reference for property transactions in Chembakkam. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark to calculate the necessary fees. It is essential for both parties in a transaction to understand how this value affects their financial obligations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nethaji 2nd Cross Street?

The current guideline value of Nethaji 2nd Cross 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 450 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking a significant increase of 500% overall.

What was the guideline value in 2017?

The guideline value for Nethaji 2nd Cross Street in 2017 was Rs 1,675 per sq.ft.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Nethaji 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.