Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Kovilpathagai village, under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen various changes over the years. In the 2012 revision, the value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2023 revision, the value increased significantly to Rs 800 per sq.ft, and then further rose to Rs 880 per sq.ft in the 2024 revision, representing a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Nethaji Street's 2024 guideline value above this median.

• New Mettu Street: Rs 805 per sq.ft (2024)
• Nehruji Street: Rs 880 per sq.ft (2024)
• N.G.G.O. Nagar: Rs 803 per sq.ft (2024)
• North Mada Street: Rs 880 per sq.ft (2024)
• N.S.Mary Kallarai Street: Rs 880 per sq.ft (2024)
• Nainiappan Street: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 further calculations.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kovilpathagai. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used for duty calculations.

When registering a property, the guideline value ensures transparency and standardization in property transactions. It is important for both buyers and sellers to understand the implications of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Kovilpathagai?

The median guideline value in Kovilpathagai is Rs 870 per sq.ft, with Nethaji Street's 2024 value being above this median.

What are the stamp duty and registration fees for a property in Nethaji Street?

For a 1,000 sq.ft plot at the guideline value of Rs 880 per sq.ft, the total guideline value is Rs 8,80,000. The stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles the registration for Nethaji Street?

The Ambattur Sub Registrar Office handles the registration for Nethaji Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.