Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Nethaji Street has changed

Over the years, the guideline value of Nethaji Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The following revision in 2023 increased the value significantly to Rs 1,500 per sq.ft, and the most recent 2024 revision raised it to Rs 1,650 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Nethaji Street.

• Nethaji Street Vard 13th: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 1,100 per sq.ft (2024)
• Nile Street: Rs 1,320 per sq.ft (2024)
• Noble Street: Rs 2,200 per sq.ft (2024)
• Navalar Street: Rs 1,100 per sq.ft (2024)
• Narasimman Street: Rs 1,320 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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?

The Sub Registrar Office that covers Nethaji Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Peerklankaranai. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is bought or sold, the guideline value is assessed to ensure that the transaction is registered at a value that reflects the current market conditions as determined by the Registration Department. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 10% from 2012 to 2024.

What are the other streets in Peerklankaranai with their guideline values?

Other streets in Peerklankaranai include Nethaji Street Vard 13th at Rs 1,650 per sq.ft, Nehru Street at Rs 1,100 per sq.ft, and Noble Street at Rs 2,200 per sq.ft, among others.

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

The Sub Registrar Office for Nethaji Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Nethaji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.