Guideline Value for Nethaji Street Lane

Nethaji Street Lane guideline value

The current guideline value of Nethaji Street Lane in Naravarikuppam village, under the Redhills SRO, is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Nethaji Street Lane has changed

The guideline value for Nethaji Street Lane has seen significant changes over the years. In 2007, the value was Rs 500 per sq.ft, which increased dramatically to Rs 1,700 per sq.ft in 2012, marking a rise of 240%. However, it then decreased to Rs 1,139 per sq.ft in 2017, a drop of 33%. Following this, the value rose to Rs 1,700 per sq.ft in 2023, and finally to Rs 1,870 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 274%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Nethaji Street Lane is above this median.

• Nethaji Street: Rs 1,870 per sq.ft (2024)
• Nehru Street: Rs 1,870 per sq.ft (2024)
• Natesan Street: Rs 1,870 per sq.ft (2024)
• Nara Lane: Rs 1,320 per sq.ft (2024)
• Muthusha Hussain Street: Rs 1,320 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, making the total charges together Rs 1,68,300. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Street Lane?

The Sub Registrar Office that covers Nethaji Street Lane is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is utilized as a benchmark for calculating stamp duty and registration fees during property transactions. When you buy or sell property in Naravarikuppam, the guideline value helps determine the official value of the property for registration purposes.

It is crucial to be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties and fees. This ensures that all transactions are recorded accurately in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Nethaji Street Lane?

The current guideline value of Nethaji Street Lane is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, starting from Rs 500 per sq.ft in 2007 to Rs 1,870 per sq.ft in 2024, reflecting an overall increase of 274%.

What are the stamp duty and registration fees for property in Nethaji Street Lane?

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 charges would be Rs 1,68,300.

Which Sub Registrar Office covers Nethaji Street Lane?

The Redhills Sub Registrar Office covers Nethaji Street Lane, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Nethaji Street Lane?

Nethaji Street Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.