Guideline Value for Nethal Nagar(TNHB)

Nethal Nagar(TNHB) guideline value

The current guideline value of Nethal Nagar(TNHB) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Ernavur village under the Thiruvottiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Nethal Nagar(TNHB) has changed

The guideline value for Nethal Nagar(TNHB) has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The changes between the revisions highlight the fluctuations in the real estate market in this area, with the most significant increase occurring between 2012 and 2017, followed by a substantial rise in the following years.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Nethal Nagar(TNHB) has a guideline value above this median.

• New Colony: Rs 1,400 per sq.ft (2024)
• Nethaji Nagar: Rs 1,600 per sq.ft (2024)
• Neithal: Rs 3,800 per sq.ft (2024)
• Palagai Thottikuppam: Rs 1,400 per sq.ft (2024)
• MURUGAPPA NAGAR (V.O.C. Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Thiruvalluvar Street): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nethal Nagar(TNHB)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nethal Nagar(TNHB)?

The Sub Registrar Office that covers Nethal Nagar(TNHB) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ernavur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and compliance with legal requirements in real estate transactions.

Frequently asked questions

What is the current guideline value of Nethal Nagar(TNHB)?

The current guideline value of Nethal Nagar(TNHB) is Rs 3,300 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What are the stamp duty and registration fees for property in Nethal Nagar(TNHB)?

For a 1,000 sq.ft plot valued at Rs 3,300 per sq.ft, the total stamp duty and registration fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Nethal Nagar(TNHB)?

The Thiruvottiyur Sub Registrar Office covers Nethal Nagar(TNHB), located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Nethal Nagar(TNHB)?

Nethal Nagar(TNHB) is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.