Guideline Value for Nethaji Nagar, Ponni Amman Koil Street,

Nethaji Nagar, Ponni Amman Koil Street, guideline value

The current guideline value for Nethaji Nagar, Ponni Amman Koil Street, is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nethaji Nagar, Ponni Amman Koil Street, has changed

The guideline value for this street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent change in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes over the years, from 2017 to 2023, the value rose by 49%. Overall, from 2017 to 2024, there has been a significant increase of 64%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, indicating that Nethaji Nagar, Ponni Amman Koil Street's 2024 figure is below this median.

• Nethaji Street: Rs 2,750 per sq.ft (2024)
• Nethaji Nagar: Rs 2,750 per sq.ft (2024)
• Nethaji Street Extn.,: Rs 2,750 per sq.ft (2024)
• Nethaji Street, Ponni Amman Koil Street,: Rs 2,200 per sq.ft (2024)
• Nehru Street 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar, Ponni Amman Koil Street,

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nethaji Nagar, Ponni Amman Koil Street,?

The Sub Registrar Office that covers Nethaji Nagar, Ponni Amman Koil Street, is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid at the time of property transfer.

When buying or selling property, the guideline value serves as a benchmark for the minimum value of the property, ensuring that the transaction is recorded accurately in the official register. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nethaji Nagar, Ponni Amman Koil Street?

The current guideline value for Nethaji Nagar, Ponni Amman Koil Street, is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This reflects an overall increase of 64% over the seven-year period.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Nethaji Nagar, Ponni Amman Koil Street's guideline value is below this median.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Nethaji Nagar, Ponni Amman Koil Street?

The Velacheri Sub Registrar Office handles registrations for Nethaji Nagar, Ponni Amman Koil Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.