Guideline Value for Nethaji Street

Nethaji Street guideline value

The current guideline value of Nethaji Street in Padiyanallur village, under the Redhills SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Nethaji Street has changed

Over the years, the guideline value of Nethaji Street has seen significant changes. Starting from the 2003 revision, which was Rs 171 per sq.ft, the value increased to Rs 400 per sq.ft in 2007, marking a 134% rise. The 2012 revision saw the value jump to Rs 1,200 per sq.ft, reflecting a substantial 200% increase. However, the 2017 revision brought a decrease to Rs 804 per sq.ft, which was a decline of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,320 per sq.ft in 2024, which is a 10% rise.

The overall change from the 2003 revision to the current 2024 value is an impressive 672%. It is important to note that there is no figure available for Nethaji Street in the 2002 revision.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Nethaji Street's 2024 figure above this median.

• Nethaji Nagar: Rs 770 per sq.ft (2024)
• Nehru Street: Rs 770 per sq.ft (2024)
• Nedunchezhiyan Street: Rs 770 per sq.ft (2024)
• N.S.C. Bose Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Oungsan Street: Rs 770 per sq.ft (2024)
• Muthu Mari Amman Street: Rs 770 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nethaji Street?

Nethaji Street falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is in line with the government's valuation standards.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It helps in assessing the fair value of the property, thus facilitating a smoother registration process.

Frequently asked questions

What is the current guideline value of Nethaji Street?

The current guideline value of Nethaji Street is Rs 1,320 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 171 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 672%.

What are the other streets in Padiyanallur and their guideline values?

Other streets in Padiyanallur, such as Nethaji Nagar, Nehru Street, and others, have a guideline value of Rs 770 per sq.ft in 2024.

What fees are associated with property transactions in Nethaji Street?

For a property on Nethaji Street, the stamp duty is 7% and the registration fee is 2%, calculated based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Nethaji Street is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.