Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Perungalathur village is Rs 2,640 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class I 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 the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012, marking an increase of 860%. However, in the 2017 revision, the value dropped to Rs 1,608 per sq.ft, a decrease of 33%. The value then rose to Rs 2,400 per sq.ft in the 2023 revision, representing a 49% increase. The latest revision in 2024 has set the guideline value at Rs 2,640 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Nethaji Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 956%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, placing Nethaji Street's 2024 figure above this median.

• Neuton Street: Rs 1,980 per sq.ft (2024)
• Nethaji Nagar: Rs 2,310 per sq.ft (2024)
• Nehru Street: Rs 2,970 per sq.ft (2024)
• Nehru Nedunchalai: Rs 2,970 per sq.ft (2024)
• N.G.O.Colony: Rs 3,960 per sq.ft (2024)
• N.T.R.Garden: Rs 1,980 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 2,640 per sq.ft, the total guideline value amounts to Rs 26,40,000. The stamp duty at 7% would be Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, totaling Rs 2,37,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,640 per sq.ft in 2024, marking an overall increase of 956%.

What is the registration office for Nethaji Street?

The registration office covering Nethaji Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the stamp duty rates applicable for properties in Nethaji Street?

The stamp duty for properties in Nethaji Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

For more information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator.