Guideline Value for NEHRU JYOTHI NAGAR 2ND STREET

Nehru Jyothi Nagar 2nd Street guideline value

The current guideline value of Nehru Jyothi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Nehru Jyothi Nagar 2nd Street has changed

Since the 2012 revision, the guideline value for Nehru Jyothi Nagar 2nd Street has undergone several changes. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024, reflecting a rise of 10% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Nehru Jyothi Nagar 2nd Street's 2024 guideline value below this median.

• Nehru Jyothi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehruji Jothi Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Jyothi Nagar 2nd Street

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

To calculate your specific fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Jyothi Nagar 2nd Street?

The Sub Registrar Office that covers Nehru Jyothi Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Perambur, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for both buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Proper understanding of this value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Nehru Jyothi Nagar 2nd Street?

The current guideline value of Nehru Jyothi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft in 2012, decreased 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 classification of Nehru Jyothi Nagar 2nd Street?

Nehru Jyothi Nagar 2nd Street is classified as Residential Class IV Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 1,98,000 including both fees.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Nehru Jyothi Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.