Guideline Value for R.S. NAGAR NETHAJI STREET

R.S. Nagar Nethaji Street guideline value

The current guideline value of R.S. Nagar Nethaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of R.S. Nagar Nethaji Street has changed

The guideline value for R.S. Nagar Nethaji Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,200 per sq.ft in the 2024 revision, marking an increase of 10% from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for R.S. Nagar Nethaji Street.

• R.S. Nagar Patel Street: Rs 2,200 per sq.ft (2024)
• R.S. Nagar Thelagar Street: Rs 2,200 per sq.ft (2024)
• Sadagoban Nagar Sannathi Street: Rs 2,200 per sq.ft (2024)
• Sadagoban Street: Rs 2,200 per sq.ft (2024)
• Sadagopan Nagar Narayanan Street: Rs 1,870 per sq.ft (2024)
• Rice Mill Salai: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in R.S. Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers R.S. Nagar Nethaji Street?

The Sub Registrar Office that covers R.S. Nagar Nethaji Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of R.S. Nagar Nethaji Street?

The current guideline value of R.S. Nagar Nethaji Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for R.S. Nagar Nethaji Street?

The land classification for R.S. Nagar Nethaji Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for R.S. Nagar Nethaji Street?

The Sub Registrar Office for R.S. Nagar Nethaji Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for property in R.S. Nagar Nethaji Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would amount to Rs 1,54,000.