Guideline Value for Nethaji Nagar

Nethaji Nagar guideline value

The current guideline value of Nethaji Nagar, located in Perungalathur village under the Padappai SRO, is Rs 2,310 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Nethaji Nagar has changed

The guideline value for Nethaji Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,407 per sq.ft in 2017. The value then rose to Rs 2,100 per sq.ft in 2023 before reaching the current value of Rs 2,310 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

In terms of changes, from 2007 to 2012, there was a substantial increase of 950%. However, the value dropped by 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, followed by a 10% rise from 2023 to 2024. Overall, the guideline value has increased by 1055% from 2007 to 2024.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the current guideline value of Nethaji Nagar.

• Nethaji Street: Rs 2,640 per sq.ft (2024)
• Neuton Street: Rs 1,980 per sq.ft (2024)
• Nehru Street: Rs 2,970 per sq.ft (2024)
• Nehru Nedunchalai: Rs 2,970 per sq.ft (2024)
• N.G.O.Colony: Rs 3,960 per sq.ft (2024)
• N.T.R.Garden: Rs 1,980 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 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total to Rs 2,07,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nethaji Nagar?

The Sub Registrar Office that covers Nethaji Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is bought or sold, the guideline value helps in calculating the financial obligations involved in the transaction. It is essential for both parties to understand how this value affects the overall cost of property transfer, ensuring a smooth registration process.

Frequently asked questions

What is the current guideline value of Nethaji Nagar?

The current guideline value of Nethaji Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 1055% over the years.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,07,900.

Which office handles property registration for Nethaji Nagar?

The Padappai Sub Registrar Office handles property registration for Nethaji Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Nethaji Nagar?

Nethaji Nagar falls under the Residential Class II Type - I land classification.