Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Nethaji Street has changed

The guideline value of Nethaji Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 159 per sq.ft. It increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value saw a significant rise to Rs 1,000 per sq.ft in 2007, which was a 233% increase. In 2012, it remained at Rs 2,500 per sq.ft, but then dropped to Rs 1,675 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1661%. There are no figures available for the years not listed in the register for this street.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the guideline value of Nethaji Street.

• Nehru Street: Rs 2,800 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 2,200 per sq.ft (2024)
• Pandiyan Street: Rs 2,800 per sq.ft (2024)
• Peeli Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• M.G.R. Street: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for precise calculations.

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 Tharamani

The guideline value is a critical factor during property registration in Tharamani. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property transaction occurs. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures 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 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661% over this period.

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

For a 1,000 sq.ft property, the total guideline value is Rs 28,00,000, with stamp duty at Rs 1,96,000 and registration fees at Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office is responsible for Nethaji Street?

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

What is the land classification for Nethaji Street?

The land classification for Nethaji Street is Residential Class II Type - I.