Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Molachoor village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

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 100 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value remained at Rs 600 per sq.ft in the subsequent revisions of 2023 and 2024, reflecting no change between these two years. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, there was a remarkable increase of 500%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and remained stable at Rs 600 per sq.ft until the latest revision in 2024. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the 2024 figure for Nethaji Street.

• Nehru Street: Rs 600 per sq.ft (2024)
• N.L Chinnapar Street: Rs 600 per sq.ft (2024)
• Palkarar Street: Rs 500 per sq.ft (2024)
• Palla odai: Rs 450 per sq.ft (2024)
• Mookambigai Nagar I & II: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 300 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 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is charged at 7%, amounting to Rs 42,000, while the registration fee is 2%, totaling Rs 12,000. Together, the stamp duty and registration fee would amount to Rs 54,000. It is important 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?

The Nethaji Street falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, 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 Molachoor

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a standard value set by the authorities.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 600 per sq.ft in 2023 and 2024, after a decrease to Rs 402 per sq.ft in 2017 from Rs 600 per sq.ft in 2012.

What are the other streets in Molachoor with similar guideline values?

Other streets in Molachoor with a guideline value of Rs 600 per sq.ft include Nehru Street and N.L Chinnapar Street. Palkarar Street and Palla odai have lower values of Rs 500 and Rs 450 per sq.ft, respectively.

What fees are associated with buying property in Nethaji Street?

When buying property 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 54,000.

Where can I find the Sub Registrar Office for Nethaji Street?

The Sub Registrar Office covering Nethaji Street is the Sunguvarchattram SRO, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.