Guideline Value for NEHRU NAGAR (WARD -9)

Nehru Nagar (Ward -9) guideline value

The current guideline value for Nehru Nagar (Ward -9) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Goodaloor village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Nehru Nagar (Ward -9) has changed

Over the years, the guideline value for Nehru Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 402 per sq.ft, which reflects a significant increase of 49% when compared to the 2023 figure. The 2012 revision also had a value of Rs 600 per sq.ft, but the value dropped by 33% to Rs 402 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, we only have the values from 2012, 2017, 2023, and the current 2024 revision to consider.

Guideline values in Goodaloor

In Goodaloor, there are 53 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 385 to Rs 2,510 per sq.ft. The median value is Rs 660 per sq.ft, making the guideline value for Nehru Nagar equal to this median.

• Nadustreet (Ward -9): Rs 550 per sq.ft (2024)
• Murugan Nagar (Kod): Rs 550 per sq.ft (2024)
• Padavattamman Koil Street (Ward -9): Rs 550 per sq.ft (2024)
• Palayathamman Koil Street (Ward -9): Rs 550 per sq.ft (2024)
• Peraringar Anna Salai (Ward -9): Rs 2,200 per sq.ft (2024)
• Peria Palayathamman Koil Street (Ward -9): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar (Ward -9)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, which totals Rs 46,200, while the registration fee is charged at 2%, amounting to Rs 13,200. Together, the total for stamp duty and registration fee is Rs 59,400. 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 Nehru Nagar (Ward -9)?

The Sub Registrar Office that covers Nehru Nagar (Ward -9) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Goodaloor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar (Ward -9)?

The current guideline value of Nehru Nagar (Ward -9) is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. From 2017 to 2023, it increased by 49% from Rs 402 per sq.ft.

What is the land classification for Nehru Nagar (Ward -9)?

The land classification for Nehru Nagar (Ward -9) is Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Nehru Nagar (Ward -9).

How is the stamp duty calculated for properties in Nehru Nagar (Ward -9)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000, leading to a stamp duty of Rs 46,200.