Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodungaiyur village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Nethaji Nagar has changed

In the 2012 revision, the guideline value for Nethaji Nagar was Rs 2,500 per sq.ft. This figure remained unchanged through the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from 2012 to 2024, the guideline value increased by 8%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Nethaji Nagar.

• Nehru Street: Rs 2,700 per sq.ft (2024)
• Navaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Navaraji Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Main Road: Rs 2,700 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that 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 details.

Which Sub Registrar Office covers Nethaji Nagar?

The Sub Registrar Office that covers Nethaji Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold, ensuring that these costs are calculated based on the official valuation set by the government.

When registering a property, buyers should be aware that the guideline value serves as a benchmark for the transaction. This means that the stamp duty is charged on the higher of the guideline value or the sale price, which helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 8%. There were no figures available for the years 2002, 2003, 2007, and 2017.

What are the registration fees for property in Nethaji Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%, and the registration fee would be Rs 54,000 at 2%, totaling Rs 2,43,000.

Which office handles property registrations in Nethaji Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Nethaji Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees when buying or selling property. It ensures that these costs are based on an official valuation, providing clarity and consistency in property transactions.