Guideline Value for Nethaji Nagar 3rd Cross Street

Nethaji Nagar 3rd Cross Street guideline value

The current guideline value of Nethaji Nagar 3rd Cross Street is Rs 2,380 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nethaji Nagar 3rd Cross Street has changed

The guideline value for Nethaji Nagar 3rd Cross Street has seen multiple revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012, marking a rise of 450%. However, from 2012 to 2017, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The value then rose again to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,380 per sq.ft in 2024, reflecting an 8% increase.

Overall, from 2007 to 2024, the guideline value has increased by 495%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Nethaji Nagar 3rd Cross Street's 2024 figure below this median.

• Nethaji Nagar 2nd 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 3rd 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 amounts to Rs 23,80,000. The stamp duty at 7% would be Rs 1,66,600, and the registration fee at 2% would be Rs 47,600, bringing the total cost to Rs 2,14,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Nagar 3rd Cross Street?

The Sub Registrar Office that covers Nethaji Nagar 3rd Cross Street is 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 information.

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

The guideline value plays a crucial role in property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees payable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is sold, the guideline value serves as a benchmark to assess the fair value of the property. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nethaji Nagar 3rd Cross Street?

The current guideline value of Nethaji Nagar 3rd 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 from Rs 400 per sq.ft in 2007 to Rs 2,380 per sq.ft in 2024, marking an overall increase of 495% over the years.

What is the land classification for Nethaji Nagar 3rd Cross Street?

The land classification for Nethaji Nagar 3rd Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nethaji Nagar 3rd Cross Street?

The Sub Registrar Office for Nethaji Nagar 3rd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nethaji Nagar 3rd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 23,80,000, with a stamp duty of Rs 1,66,600.