Guideline Value for Nethaji Street (Venkatapuram)

Nethaji Street (Venkatapuram) guideline value

The current guideline value of Nethaji Street (Venkatapuram) is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - II.

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

The guideline value for Nethaji Street (Venkatapuram) has undergone several revisions over the years. The oldest recorded revision is from 2012, where the value was Rs 3,700 per sq.ft. In 2017, it decreased to Rs 2,479 per sq.ft, marking a drop of 33%. The value then increased significantly to Rs 3,700 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 4,000 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no recorded figures for Nethaji Street (Venkatapuram) in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, positioning Nethaji Street (Venkatapuram) above this median.

• Nethaji Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 4rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty, charged at 7%, would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, leading to a total of Rs 3,60,000. It is essential 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 detailed calculations.

Which Sub Registrar Office covers Nethaji Street (Venkatapuram)?

The Sub Registrar Office that covers Nethaji Street (Venkatapuram) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and to accurately calculate the costs involved in property transactions.

When registering a property, the guideline value is used to assess the applicable duties, ensuring that the transaction is recorded at a value that reflects the current market standards set by the Registration Department. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of Nethaji Street (Venkatapuram) is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,700 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024, marking an increase of 8%. It was Rs 2,479 per sq.ft in 2017 and Rs 3,700 per sq.ft in 2012.

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

Nethaji Street (Venkatapuram) is classified as Residential Special Type - II, indicating its suitability for residential development.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Nethaji Street (Venkatapuram)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 40,00,000, the stamp duty would be Rs 2,80,000 at a rate of 7%.