Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street, located in the 2nd Division village under the Kanchipuram Joint IV SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a 60% rise. However, the value then decreased to Rs 536 per sq.ft in 2017, a decline of 33%. The following revision in 2023 set the value at Rs 800 per sq.ft, which then increased to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% increase. The register has no figure for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 76%, highlighting the fluctuations in property values over the years. The 2024 figure of Rs 880 per sq.ft is below the median value of Rs 1,650 per sq.ft for the 101 streets in the 2nd Division under the Kanchipuram Joint IV SRO.

Guideline values in 2nd Division

In the 2nd Division village, the guideline values range from Rs 800 to Rs 11,000 per sq.ft as of 2024. Nethaji Street's current value of Rs 880 per sq.ft is below the median of Rs 1,650 per sq.ft. Here are some other streets in 2nd Division:

• Nethaji Road: Rs 880 per sq.ft (2024)
• Nethaji Nagar: Rs 880 per sq.ft (2024)
• Nellukara Street: Rs 5,500 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Medu Arasamara Street: Rs 1,100 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. 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 information.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street falls under the jurisdiction of the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor in property registration in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 76% over the years.

What are the other streets with similar guideline values?

Other streets in the 2nd Division with a guideline value of Rs 880 per sq.ft include Nethaji Road and Nethaji Nagar.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 79,200.

Which office handles property registrations for Nethaji Street?

The Kanchipuram Joint IV Sub Registrar Office handles property registrations for Nethaji Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501.