Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village under the Pammal SRO, and it is classified as Residential Class II Type - II.

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 recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no recorded figures for Nethaji Street in the revisions of 2002, 2003, 2007, and 2012. The significant change from the 2017 to 2023 revision was a 49% increase, leading to the current value of Rs 1,980 per sq.ft.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Nethaji Street's 2024 figure below this median.

• Omathur Ramasamy reddiar Street: Rs 1,980 per sq.ft (2024)
• Om Sri Sai Nagar: Rs 2,860 per sq.ft (2024)
• Our Lady Farm: Rs 2,200 per sq.ft (2024)
• Muthu Ramalinga Devar Street: Rs 1,980 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 1,980 per sq.ft (2024)
• Multi Industrial Nagar: Rs 2,750 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for these fees would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the property registration process in Kerugambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are based on the higher of the guideline value or the actual sale price. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

For a property valued at the current guideline value of Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers Nethaji Street?

The Pammal Sub Registrar Office covers Nethaji Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Nethaji Street?

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