Guideline Value for Nethaji Nagar - All streets

Nethaji Nagar - All streets guideline value

The current guideline value for Nethaji Nagar - All streets is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Nethaji Nagar - All streets has changed

The guideline value for Nethaji Nagar has seen several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then increased significantly to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, there has been an 11% increase in the guideline value.

Guideline values in Adambakkam

In Adambakkam, there are a total of 569 streets under the Alandur SRO, with the 2024 guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Nethaji Nagar - All streets.

• Nethaji Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• New Colony 10th Street: Rs 3,900 per sq.ft (2024)
• New Colony 11th Street: Rs 3,900 per sq.ft (2024)
• New Colony 1st Lane: Rs 3,900 per sq.ft (2024)
• New Colony 1st Street: Rs 3,900 per sq.ft (2024)
• New Colony 2nd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar - All streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nethaji Nagar - All streets?

The Sub Registrar Office that covers Nethaji Nagar - All streets is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nethaji Nagar - All streets?

The current guideline value for Nethaji Nagar - All streets is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024. It was Rs 2,345 per sq.ft in 2017, and Rs 3,500 per sq.ft in 2012.

What is the land classification for Nethaji Nagar?

Nethaji Nagar is classified as Residential Class I Type - III, which is important for understanding the zoning and permissible uses of the land.

Where is the Sub Registrar Office located for Nethaji Nagar?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Nethaji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 39,00,000, the stamp duty at 7% would be Rs 2,73,000.