Guideline Value for Nethaji Nagar 2nd Cross Street

Nethaji Nagar 2nd Cross Street guideline value

The current guideline value of Nethaji Nagar 2nd Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and falls under the Residential Class II Type - I land classification.

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

The guideline value for Nethaji Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 400 per sq.ft. This increased significantly to Rs 2,200 per sq.ft in 2012, marking a 450% rise. However, the value then dropped to Rs 1,474 per sq.ft in 2017, a decrease of 33%. The most recent revisions show an increase to Rs 2,200 per sq.ft in 2023, followed by a further increase to Rs 2,380 per sq.ft in 2024, reflecting an 8% rise.

Between 2017 and 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 495%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, positioning Nethaji Nagar 2nd Cross Street below this median value.

• Nethaji Nagar 3rd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar: Rs 2,380 per sq.ft (2024)
• New Street Nagar: Rs 2,970 per sq.ft (2024)
• N.G.O. Colony: Rs 2,970 per sq.ft (2024)
• Nehru Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,380 per sq.ft, the total guideline value would be Rs 23,80,000. The stamp duty at 7% would amount to Rs 1,66,600, and the registration fee at 2% would be Rs 47,600. Together, the total cost for stamp duty and registration would be Rs 2,14,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethaji Nagar 2nd Cross Street?

The Nethaji Nagar 2nd Cross Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is conducted in accordance with local regulations. Buyers and sellers should be aware of the current guideline value to accurately estimate their costs during the registration process.

Frequently asked questions

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

The current guideline value of Nethaji Nagar 2nd Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, reflecting an overall increase of 495% over the years.

What are the guideline values for other streets in Hastinapuram?

Other streets in Hastinapuram have varying guideline values, with the median being Rs 2,970 per sq.ft. Nethaji Nagar 2nd Cross Street is below this median value.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 23,80,000, the stamp duty would be Rs 1,66,600 and the registration fee would be Rs 47,600, totaling Rs 2,14,200.

Which office handles the registration for Nethaji Nagar 2nd Cross Street?

The Pallavaram Sub Registrar Office handles the registration for Nethaji Nagar 2nd Cross Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.