Guideline Value for Nethaji Subash Chandra Bose Nagar

Nethaji Subash Chandra Bose Nagar guideline value

The current guideline value of Nethaji Subash Chandra Bose Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Puzhal village and falls under the Redhills SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Nethaji Subash Chandra Bose Nagar has changed

The guideline value for Nethaji Subash Chandra Bose Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a 400% increase. However, in the 2017 revision, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The 2023 revision saw a substantial rise to Rs 1,500 per sq.ft, and the most recent 2024 revision further increased it to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Notably, the guideline value has risen overall from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an increase of 450%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Puzhal

In Puzhal, there are a total of 270 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 1,102 per sq.ft, making the current value of Nethaji Subash Chandra Bose Nagar above the median.

• Nethaji Subhash Chandrabose Street: Rs 1,650 per sq.ft (2024)
• New Adhinath Colony: Rs 1,102 per sq.ft (2024)
• New Krishna Nagar: Rs 1,102 per sq.ft (2024)
• New Mahaveer Garden: Rs 1,100 per sq.ft (2024)
• New Sakthivel Garden: Rs 1,100 per sq.ft (2024)
• Neethathasan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Subash Chandra Bose Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 Subash Chandra Bose Nagar?

The Sub Registrar Office that covers Nethaji Subash Chandra Bose Nagar is 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 details.

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

The guideline value plays a crucial role when buying or selling property in Puzhal. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware that the guideline value is the basis for calculating these fees.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property transactions and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Nethaji Subash Chandra Bose Nagar?

The current guideline value of Nethaji Subash Chandra Bose Nagar is Rs 1,650 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 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450%.

What are the stamp duty rates for property in Nethaji Subash Chandra Bose Nagar?

The stamp duty for property in Nethaji Subash Chandra Bose Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office should I visit for property registration?

The Redhills Sub Registrar Office is responsible for property registration in Nethaji Subash Chandra Bose Nagar. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft for the year 2024, with Nethaji Subash Chandra Bose Nagar's guideline value being above this median.