Guideline Value for Nethaji Nagar 5th Street

Nethaji Nagar 5th Street guideline value

The current guideline value of Nethaji Nagar 5th Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Nethaji Nagar 5th Street has changed

The guideline value for Nethaji Nagar 5th Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,200 per sq.ft, which then decreased to Rs 2,144 per sq.ft in 2017. Following this, the 2023 revision saw a significant increase to Rs 3,200 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,520 per sq.ft. 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%. The overall change from 2012 to 2024 reflects a 10% increase, highlighting the fluctuations in the guideline values over the years.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value of Nethaji Nagar 5th Street is below this median.

• Nethaji Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 3rd 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty, charged at 7%, would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethaji Nagar 5th Street?

The Sub Registrar Office that covers Nethaji Nagar 5th Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

When buying or selling property in Porur, the guideline value plays a crucial role in determining the registration fees. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

It is essential for buyers and sellers to understand the guideline value as it impacts the overall cost of property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in budgeting for additional costs associated with property transfer.

Frequently asked questions

What is the current guideline value of Nethaji Nagar 5th Street?

The current guideline value of Nethaji Nagar 5th 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 increased 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 of Nethaji Nagar 5th Street?

Nethaji Nagar 5th Street is classified under Residential Special Type - II.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Where can I find the Sub Registrar Office for Nethaji Nagar 5th Street?

The Sub Registrar Office for Nethaji Nagar 5th Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.