Guideline Value for NEHRU NAGAR 1 ST STREET - 13 TH CROSS STREET

Nehru Nagar 1 St Street - 13 Th Cross Street guideline value

The current guideline value for Nehru Nagar 1 St Street - 13 Th Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - II.

How the guideline value of Nehru Nagar 1 St Street - 13 Th Cross Street has changed

The guideline value for Nehru Nagar 1 St Street - 13 Th Cross Street has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft. This figure remained unchanged until 2017, when it dropped to Rs 2,345 per sq.ft. The value then increased significantly to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, representing an 11% rise from the previous year.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam village, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Nehru Nagar 1 St Street - 13 Th Cross Street above this median.

• NEHRU NAGAR 14th CROSS STREET: Rs 3,900 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Road: Rs 4,400 per sq.ft (2024)
• Neelankarai To Thoraipakkam Link Road: Rs 3,300 per sq.ft (2024)
• Navaneetham Ammal Street: Rs 1,100 per sq.ft (2024)
• Netaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 1 St Street - 13 Th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total fees would be Rs 3,51,000. 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 Nehru Nagar 1 St Street - 13 Th Cross Street?

The Neelankarai Sub Registrar Office covers Nehru Nagar 1 St Street - 13 Th Cross Street. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nehru Nagar 1 St Street - 13 Th Cross Street?

The current guideline value for Nehru Nagar 1 St Street - 13 Th Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024. There were no figures for the years 2002, 2003, and 2007.

What is the classification of Nehru Nagar 1 St Street - 13 Th Cross Street?

Nehru Nagar 1 St Street - 13 Th Cross Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. It is responsible for property registrations in the area.