Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Gooduvancheri village, under the Gooduvancheri SRO, is Rs 1,500 per sq.ft as per the 2024 revision effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,500 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year, resulting in a cumulative increase of 49% from the 2017 figure.

It is important to note that the register has no figures for Nethaji Street for the years 2002, 2003, 2007, and 2012. Thus, the only available data is from the revisions in 2017, 2023, and 2024, with the current value reflecting the median of Rs 1,500 per sq.ft for the village.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Nethaji Street's 2024 guideline value aligns perfectly with this median.

• Nehru Street: Rs 1,500 per sq.ft (2024)
• N.G.O. colony: Rs 2,001 per sq.ft (2024)
• Naveen Satish Nagar: Rs 1,500 per sq.ft (2024)
• Natarajapuram: Rs 1,200 per sq.ft (2024)
• Nataraja Nayakar Street: Rs 1,200 per sq.ft (2024)
• Om Sakthi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nethaji Street?

The Sub Registrar Office that covers Nethaji Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Gooduvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023 and 2024, marking a 49% increase overall.

What is the land classification for Nethaji Street?

Nethaji Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the registration fees for property transactions?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nethaji Street located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.