Guideline Value for NEDHAJI STREET

Nedhaji Street guideline value

The current guideline value of Nedhaji Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nedhaji Street has changed

In the 2007 revision, the guideline value for Nedhaji Street was Rs 125 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 700 per sq.ft, marking a change of +460%. However, in the 2017 revision, the value dropped to Rs 469 per sq.ft, which was a decrease of -33%. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 700 per sq.ft, reflecting no change between these two years.

There are no figures available for the revisions in 2002 and 2003 for Nedhaji Street. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of +460%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Nedhaji Street's 2024 figure below this median.

• Navaneetham Nagar: Rs 700 per sq.ft (2024)
• Navalar Street: Rs 1,300 per sq.ft (2024)
• Nehru Street: Rs 700 per sq.ft (2024)
• NEHRU STREET 1st GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 2nd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 3rd GURUKU STREET: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nedhaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, the total cost for these fees would be Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nedhaji Street?

Nedhaji Street falls under the jurisdiction of the Manavalanagar Sub Registrar Office. The office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Nedhaji Street?

The current guideline value of Nedhaji Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nedhaji Street has seen several revisions, with the most recent being Rs 700 per sq.ft in both 2023 and 2024. The value was Rs 469 per sq.ft in 2017 and Rs 700 per sq.ft in 2012.

What is the land classification for Nedhaji Street?

Nedhaji Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nedhaji Street?

The Sub Registrar Office covering Nedhaji Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,00,000, the stamp duty would be calculated at 7% of that amount.