Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is 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. In 2002, the guideline value was Rs 593 per sq.ft, which increased to Rs 657 per sq.ft in 2003. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007. By 2012, it was recorded at Rs 3,200 per sq.ft, but saw a decrease to Rs 2,144 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,200 per sq.ft, and the most recent 2024 revision set it at Rs 3,520 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 494%. The changes between the most recent revisions include a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it increased significantly by 220% from 2007 to 2012. The rise from 2003 to 2007 was 52%, and from 2002 to 2003, it was 11%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry 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. Nethaji Nagar's current guideline value is below this median.

• Nethaji Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 5th Street: Rs 3,520 per sq.ft (2024)
• Nehru Street: Rs 3,520 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 3,520 per sq.ft, the total 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, bringing the total cost 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.

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

Which Sub Registrar Office covers Nethaji Nagar?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar 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 increased from Rs 593 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing a total increase of 494% over this period.

What are the stamp duty and registration fees for property in Nethaji Nagar?

For a 1,000 sq.ft plot, the total guideline value is 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.

Which office handles property registrations for Nethaji Nagar?

The Kunrathur Sub Registrar Office is responsible for property registrations in Nethaji Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Where can I find more information about the guideline value?

More information about the guideline value can be found in the Registration Department's guideline value register (TNReginet).