Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Nethaji Street has changed

The guideline value for Nethaji Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,100 per sq.ft. This figure remained the same until the 2017 revision, where it dropped to Rs 737 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,100 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,200 per sq.ft in the 2024 revision, reflecting a 9% rise.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, the guideline value has increased by 9%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Nethaji Street.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value of Nethaji Street is below this median.

• Nehru Street: Rs 1,200 per sq.ft (2024)
• Navganesh Nagar: Rs 2,400 per sq.ft (2024)
• Nagathamman Koil Street Survey No.114/2A,2B,2C: Rs 4,478 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,200 per sq.ft (2024)
• Murugambedu Main Road: Rs 1,600 per sq.ft (2024)
• Periyar Street: Rs 1,200 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 further calculations.

Which Sub Registrar Office covers Nethaji Street?

The Sub Registrar Office that covers Nethaji Street is 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 Soorapattu

The guideline value is a crucial factor during property registration in Soorapattu. It determines the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers should be aware 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 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification of Nethaji Street?

Nethaji Street falls under the Residential Class II Type - II land classification.

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

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

How is stamp duty calculated for properties in Nethaji Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 84,000 at 7% of Rs 12,00,000.