Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Thalakanancherry village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and 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. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,800 per sq.ft.

Between the revisions, the changes are noteworthy. From 2007 to 2012, there was a substantial increase of 257%. However, the value dropped by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and increased by 12% from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. Nethaji Street's 2024 guideline value is below this median.

• Nehru Street: Rs 2,800 per sq.ft (2024)
• Nehru High Road Main: Rs 2,800 per sq.ft (2024)
• New Vinayagar Street: Rs 4,400 per sq.ft (2024)
• N G O Colony 1st Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 3rd Street: Rs 3,900 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 would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor used during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and fairness in property transactions within the region.

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 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification of Nethaji Street?

Nethaji Street is classified as Residential Class II Type - II.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would amount to Rs 2,52,000.

Which office handles property registration for Nethaji Street?

The Alandur Sub Registrar Office handles property registration for Nethaji Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.