Guideline Value for Nethaji Subhash Chandrabose Street

Nethaji Subhash Chandrabose Street guideline value

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

How the guideline value of Nethaji Subhash Chandrabose Street has changed

The guideline value for Nethaji Subhash Chandrabose Street has seen several revisions over the years. The earliest recorded value in the register is from 2002, which was Rs 1,028 per sq.ft. This figure changed to Rs 104 per sq.ft in 2003, a decrease of 90%. The value then increased significantly to Rs 400 per sq.ft in 2007, marking a rise of 285%. In 2012, it was recorded again at Rs 1,500 per sq.ft, reflecting a substantial increase of 275%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of 33%. The most recent revisions show the value at Rs 1,500 per sq.ft in 2023, followed by a rise to Rs 1,650 per sq.ft in 2024, which is an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 61%. The register has no figures for the years not mentioned above.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing Nethaji Subhash Chandrabose Street above this median.

• Nethaji Subash Chandra Bose Nagar: 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 Subhash Chandrabose Street

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 fees 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.

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

Which Sub Registrar Office covers Nethaji Subhash Chandrabose Street?

The Sub Registrar Office that covers Nethaji Subhash Chandrabose Street 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 additional information.

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

The guideline value is an essential factor during the registration of property transactions in Puzhal. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the registration process aligns with the established valuation standards.

Frequently asked questions

What is the current guideline value of Nethaji Subhash Chandrabose Street?

The current guideline value of Nethaji Subhash Chandrabose Street 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 undergone several revisions, increasing from Rs 1,028 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting various changes in the market.

What is the land classification for Nethaji Subhash Chandrabose Street?

Nethaji Subhash Chandrabose Street is classified as Residential Class I Type - I, which indicates its designation for residential development.

Where can I find the Sub Registrar Office for this street?

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

How is the stamp duty calculated for properties in Puzhal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.