Guideline Value for Nethaji Ist Cross Street

Nethaji Ist Cross Street guideline value

The current guideline value of Nethaji Ist Cross Street is Rs 2,700 per sq.ft. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nethaji Ist Cross Street has changed

The guideline value for Nethaji Ist Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 450 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking an increase of 456%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing Nethaji Ist Cross Street's 2024 figure above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Ist Cross Street?

The Sub Registrar Office that covers Nethaji Ist Cross 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 information.

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

The guideline value is a crucial factor during property registration in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. The guideline value ensures that the transaction is recorded at a fair rate as per government standards.

When a buyer or seller approaches the registration office, the guideline value is assessed to calculate the necessary fees. This value must be adhered to for the registration process to proceed smoothly, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nethaji Ist Cross Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 450 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 500% over these years.

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.

What are the other streets in Chembakkam with similar guideline values?

Other streets in Chembakkam with similar guideline values include Nethaji 2nd Street, Nethaji 2nd Cross Street, and Nethaji 1st Street, all valued at Rs 2,700 per sq.ft in 2024.

How is the stamp duty calculated for properties in Nethaji Ist Cross Street?

The stamp duty for properties in Nethaji Ist Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.