Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adayar village under the Adayar SRO, with a land classification of Residential Class III Type - I.

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 1,750 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it then decreased to Rs 3,015 per sq.ft in 2017. The value rose again to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 5,000 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 186%, reflecting significant changes over the years.

Guideline values in Adayar

Adayar village has a total of 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Nethaji Street's current guideline value is below this median.

• New Street: Rs 6,100 per sq.ft (2024)
• Narasimma Pillai Street: Rs 5,000 per sq.ft (2024)
• Naidu Street Balakrishnan Lane: Rs 5,500 per sq.ft (2024)
• Naidu Street and 4th Main Road Extension (Kottur Garden): Rs 9,400 per sq.ft (2024)
• Naidu Street: Rs 9,400 per sq.ft (2024)
• Naidu Lane 2nd Street: Rs 6,100 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 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making a total of Rs 4,50,000. 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 details.

Which Sub Registrar Office covers Nethaji Street?

The Sub Registrar Office that covers Nethaji Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Adayar. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the transaction process.

When purchasing property, the guideline value is often referred to as a baseline for assessing the property's worth. It is essential for both buyers and sellers to understand how this value impacts the overall cost of the transaction, including the additional fees that may arise.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Nethaji Street has changed from Rs 1,750 per sq.ft in 2007 to Rs 5,000 per sq.ft in 2024, with several revisions in between.

What is the registration office for Nethaji Street?

The registration office for Nethaji Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the stamp duty for a property on Nethaji Street?

The stamp duty for a property on Nethaji Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.