Guideline Value for Nethaji street

Nethaji street guideline value

The current guideline value of Nethaji street in 5. Athipattu village, under the Konnur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - II.

How the guideline value of Nethaji street has changed

The guideline value for Nethaji street has undergone several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 saw a further increase to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no recorded figures for Nethaji street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Nethaji street's 2024 figure is below this median.

• New Century Colony: Rs 2,400 per sq.ft (2024)
• Nehru Street 2Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Nehru Street 1Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Narmada Street (ICF Colony): Rs 2,400 per sq.ft (2024)
• N.S.K. Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Padasalai Street: Rs 1,300 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. 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 street?

Nethaji street falls under the Konnur Sub Registrar Office located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, in the Chennai registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor during the registration of property transactions in 5. Athipattu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value for registration purposes. It is essential to consider this value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Nethaji street?

The current guideline value of Nethaji street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 62% over this period.

What is the land classification for Nethaji street?

Nethaji street is classified as Residential Class II Type - II.

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

The Sub Registrar Office covering Nethaji street is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Nethaji street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 1,300 per sq.ft would incur a stamp duty of Rs 91,000.