Guideline Value for Nethaji Nagar 3rd Street

Nethaji Nagar 3rd Street guideline value

The current guideline value of Nethaji Nagar 3rd Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - II.

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

The guideline value of Nethaji Nagar 3rd Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,200 per sq.ft. This figure then decreased to Rs 2,144 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,200 per sq.ft, which is a rise of 49%. The most recent revision in 2024 established the guideline value at Rs 3,520 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Nethaji Nagar 3rd Street's 2024 guideline value below this median.

• Nethaji Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 5th Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar: Rs 3,520 per sq.ft (2024)
• New Colony 1st Cross Street (East): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar 3rd Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Nagar 3rd Street?

The Sub Registrar Office that covers Nethaji Nagar 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

When buying or selling property in Porur, the guideline value is crucial as it determines the minimum value for registration purposes. This value is used to calculate the stamp duty and registration fees, ensuring that transactions are conducted at a legally recognized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Understanding this value will help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Nethaji Nagar 3rd Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

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

Nethaji Nagar 3rd Street is classified as Residential Special Type - II under the Kunrathur SRO.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that properties are registered at a legally recognized value.

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

The Sub Registrar Office for Nethaji Nagar 3rd Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.