Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 100 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 600%. However, in 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose to Rs 700 per sq.ft again in 2023, and it has remained at this level through to the 2024 revision, showing no change.

Overall, from 2007 to 2024, the guideline value has increased by 600%. The revisions for the years 2002 and 2003 have no figures recorded for this street.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Nethaji Nagar.

• N. K. C. Nagar: Rs 700 per sq.ft (2024)
• Om Sakthi Avenue: Rs 500 per sq.ft (2024)
• Om Sakthi Nagar Avenue Extn -II: Rs 500 per sq.ft (2024)
• Orchid Villa Nagar: Rs 500 per sq.ft (2024)
• M.G. Nagar Extension: Rs 2,389 per sq.ft (2024)
• M.G.Nagar: Rs 2,389 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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?

The Sub Registrar Office that covers Nethaji Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Kayirambedu. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 100 per sq.ft to Rs 700 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification for Nethaji Nagar?

Nethaji Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Nethaji Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.