Guideline Value for JAWAHARLAL NEHRU STREET

Jawaharlal Nehru Street guideline value

The current guideline value of Jawaharlal Nehru Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, with a land classification of Residential Class III Type - I.

How the guideline value of Jawaharlal Nehru Street has changed

The guideline value of Jawaharlal Nehru Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 1,337 per sq.ft. This increased to Rs 1,900 per sq.ft in 2003, marking a change of +42%. The value then rose to Rs 3,000 per sq.ft in 2007, reflecting a +58% increase. In 2012, the guideline value was Rs 6,000 per sq.ft, representing a significant +100% rise from the previous revision. However, in 2017, it dropped to Rs 4,020 per sq.ft, showing a decrease of -33%. The value then increased to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +394%. There are no figures available for the revisions in years other than those specified.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Jawaharlal Nehru Street's current value below this median.

• Jagadeeswaran Street: Rs 9,900 per sq.ft (2024)
• Jagadambal Street: Rs 17,600 per sq.ft (2024)
• Hospital Road Anna Road: Rs 5,500 per sq.ft (2024)
• Hindi Prachar Sabha Street: Rs 14,300 per sq.ft (2024)
• Hanumantha Rao Road(Street)(Cross Street): Rs 9,900 per sq.ft (2024)
• Habibullah Road (Part III Upto G.N.Chetty Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Jawaharlal Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 Jawaharlal Nehru Street?

The Sub Registrar Office that covers Jawaharlal Nehru Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value of property for registration purposes, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to assess the appropriate fees. If the sale price of the property is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Jawaharlal Nehru Street?

The current guideline value of Jawaharlal Nehru Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,337 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of +394% across the revisions.

What is the median guideline value for streets in Tnagar?

The median guideline value for streets in Tnagar is Rs 11,000 per sq.ft, which is higher than the current value of Jawaharlal Nehru Street.

What are the stamp duty rates in Jawaharlal Nehru Street?

The stamp duty rate for property transactions in Jawaharlal Nehru Street is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Jawaharlal Nehru Street located?

The Sub Registrar Office for Jawaharlal Nehru Street is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.