Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it saw a significant decrease of 33% to Rs 536 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 800 per sq.ft, and the current 2024 revision reflects a further increase of 10%, bringing it to Rs 880 per sq.ft.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 76%.

Guideline values in 2nd Division

In 2nd Division, there are 101 streets under the Kanchipuram Joint IV SRO, with 2024 guideline values ranging from Rs 800 to Rs 11,000 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, indicating that the 2024 figure for Nethaji Nagar is below this median.

• Nethaji Road: Rs 880 per sq.ft (2024)
• Nethaji Street: Rs 880 per sq.ft (2024)
• Nellukara Street: Rs 5,500 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Medu Arasamara Street: Rs 1,100 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, leading to a total cost of Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nethaji Nagar?

Nethaji Nagar is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a critical factor in property transactions within 2nd Division. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that all transactions are legally recognized and that the government receives the necessary revenue from property transfers.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 76% over this period.

What are the other streets with the same guideline value in 2nd Division?

Other streets in 2nd Division with the same guideline value of Rs 880 per sq.ft in 2024 include Nethaji Road and Nethaji Street.

How is stamp duty calculated for properties in Nethaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600.

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

The Sub Registrar Office covering Nethaji Nagar is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.