Guideline Value for Nethaji 3rd Street (Ward 22)

Nethaji 3rd Street (Ward 22) guideline value

The current guideline value of Nethaji 3rd Street (Ward 22) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Nethaji 3rd Street (Ward 22) has changed

The guideline value for Nethaji 3rd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that Nethaji 3rd Street's current value is below this median.

• Nethaji 2nd Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Nethaji 1st Street (Ward 22): Rs 1,300 per sq.ft (2024)
• Nellur High Road: Rs 3,300 per sq.ft (2024)
• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji 3rd Street (Ward 22)

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, calculated at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethaji 3rd Street (Ward 22)?

The Sub Registrar Office that covers Nethaji 3rd Street (Ward 22) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is crucial during property transactions in Madhavaram, as it determines the minimum amount at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs for completing the transaction. Thus, understanding the guideline value is important for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Nethaji 3rd Street (Ward 22)?

The current guideline value of Nethaji 3rd Street (Ward 22) 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 are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft.

What is the stamp duty for a property in Nethaji 3rd Street (Ward 22)?

The stamp duty for a property valued at Rs 13,00,000 in Nethaji 3rd Street would be Rs 91,000, calculated at 7% of the guideline value.

Where can I find the Sub Registrar Office for Nethaji 3rd Street (Ward 22)?

The Sub Registrar Office for Nethaji 3rd Street (Ward 22) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.