Guideline Value for Nethaji Salai

Nethaji Salai guideline value

The current guideline value of Nethaji Salai is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Special Type - IV.

How the guideline value of Nethaji Salai has changed

The guideline value of Nethaji Salai has seen several revisions over the years. In 2003, the guideline value was Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value then jumped significantly to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The guideline value rose again to Rs 2,500 per sq.ft in 2023 and has now reached Rs 2,750 per sq.ft in the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

Between the revisions, several changes occurred. From 2003 to 2007, the value increased by 49%, followed by a remarkable 400% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and most recently, there was a 10% increase from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 721%.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Nethaji Salai is above this median.

• New N.G.G.O Colony: Rs 1,100 per sq.ft (2024)
• N.G.G.O Colony: Rs 1,100 per sq.ft (2024)
• North raja Street: Rs 1,650 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,100 per sq.ft (2024)
• Namakkal ramalingam Street: Rs 1,100 per sq.ft (2024)
• Nakeeran Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. It is important to note that the 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 information on calculating these fees.

Which Sub Registrar Office covers Nethaji Salai?

The Sub Registrar Office that covers Nethaji Salai is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruvallur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

Additionally, the guideline value helps maintain transparency in property transactions. It ensures that properties are not undervalued or overvalued during registration, providing a fair framework for all stakeholders involved in the property market.

Frequently asked questions

What is the current guideline value of Nethaji Salai?

The current guideline value of Nethaji Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 335 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 721% over this period.

What is the land classification of Nethaji Salai?

Nethaji Salai is classified as Residential Special Type - IV, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Nethaji Salai is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone.

How is the stamp duty calculated for properties in Nethaji Salai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.