Guideline Value for NEHRU COLONY

Nehru Colony guideline value

The current guideline value of Nehru Colony, located in Vilingiyambakkam village under the Avadi SRO, is Rs 800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehru Colony has changed

The guideline value for Nehru Colony has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 79 per sq.ft. This increased to Rs 250 per sq.ft in 2007, followed by a significant rise to Rs 750 per sq.ft in 2012. However, there was a decline to Rs 502 per sq.ft in 2017. The value remained at Rs 800 per sq.ft during the 2023 revision and continues at the same rate for the 2024 revision. The register has no figure for the year 2002 for this street.

From 2017 to 2023, the guideline value increased by 59%. The 2012 to 2017 revision saw a decrease of 33%, while the 2007 to 2012 revision experienced a substantial increase of 200%. The increase from 2003 to 2007 was 216%. Overall, from 2003 to 2024, the guideline value has risen by 913%.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft, with a median value of Rs 935 per sq.ft. Nehru Colony's 2024 guideline value is below this median.

• Neduncheliyan St: Rs 935 per sq.ft (2024)
• Nehru St: Rs 800 per sq.ft (2024)
• Natarajan St: Rs 935 per sq.ft (2024)
• Nethaji St: Rs 935 per sq.ft (2024)
• Nandavana Mettur Main Road: Rs 1,310 per sq.ft (2024)
• Nammalvar St: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Nehru Colony?

Nehru Colony is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vilingiyambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value in order to understand the financial implications of their transactions. Accurate knowledge of the guideline value helps ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Colony?

The current guideline value of Nehru Colony is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, from Rs 79 per sq.ft in 2003 to Rs 800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Nehru Colony?

Nehru Colony is classified as Residential Class II Type - I according to the land classification standards.

What are the stamp duty and registration fees for a property in Nehru Colony?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where is the Sub Registrar Office for Nehru Colony located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.