Guideline Value for Nethaji Street (Lakshmipuram)

Nethaji Street (Lakshmipuram) guideline value

The current guideline value of Nethaji Street (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Nethaji Street (Lakshmipuram) has changed

The guideline value for Nethaji Street (Lakshmipuram) has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The latest revision in 2024 set the value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for Nethaji Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Nethaji Street (Lakshmipuram).

• Nethaji Street Cross St (Ward-22): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Annai Indira Nagar): Rs 1,300 per sq.ft (2024)
• Nethaji Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Nethaji st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nethaji st (Ward No.25): Rs 1,300 per sq.ft (2024)
• Nethaji St, Lakshmipuram (Ward-25): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street (Lakshmipuram)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Street (Lakshmipuram)?

The Sub Registrar Office covering Nethaji Street (Lakshmipuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value as it influences the stamp duty and registration fees. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Street (Lakshmipuram)?

The current guideline value of Nethaji Street (Lakshmipuram) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and is now Rs 1,600 per sq.ft in 2024.

What is the land classification of Nethaji Street (Lakshmipuram)?

Nethaji Street (Lakshmipuram) is classified as Residential Class II Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for property in Nethaji Street (Lakshmipuram)?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find the Sub Registrar Office for Nethaji Street (Lakshmipuram)?

The Sub Registrar Office for Nethaji Street (Lakshmipuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.