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Guideline Value

Corporate

Guideline Value for Nethaji Street (Nilamangai Nagar)

₹3900/sq.ft.

The guideline value for Nethaji Street (nilamangai Nagar) in Adambakkam village (Alandur SRO, Chennai zone) is Rs 3900 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Adambakkam

Village

Alandur

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹3900 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1323 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061
044-22240222
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Nethaji Street (nilamangai Nagar)

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Nethaji Street (Nilamangai Nagar) guideline value

The current guideline value of Nethaji Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nethaji Street (Nilamangai Nagar) has changed

The guideline value for Nethaji Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,323 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by an 11% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 195%. The fluctuations in the guideline value highlight the dynamic nature of property valuation in this area.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Nethaji Street (Nilamangai Nagar).

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, resulting in a total of Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Nethaji Street (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must be aware that the guideline value is often used as a reference point for the transaction value.

During registration, the buyer is required to pay stamp duty based on the higher amount between the guideline value and the actual sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Nethaji Street (Nilamangai Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,323 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 195% over the years.

What is the registration office for Nethaji Street (Nilamangai Nagar)?

The registration office for Nethaji Street (Nilamangai Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property in Nethaji Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with a guideline value of Rs 3,900 per sq.ft include Nethaji Nagar - All streets, New Colony 10th Street, New Colony 11th Street, New Colony 1st Lane, New Colony 1st Street, and New Colony 2nd Lane.