Guideline Value for NEHRU NAGAR 1ST CROSS STREET

Nehru Nagar 1st Cross Street guideline value

The current guideline value of Nehru Nagar 1st Cross 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 it falls under the Residential Class IV Type - I land classification.

How the guideline value of Nehru Nagar 1st Cross Street has changed

The guideline value for Nehru Nagar 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 550 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 264%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and most recently, it rose to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, highlighting significant changes over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. Nehru Nagar 1st Cross Street's 2024 guideline value is below this median.

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

Stamp duty and registration fee for property in Nehru Nagar 1st Cross 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 duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar 1st Cross Street?

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

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

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue based on the established guideline values.

When selling a property, the guideline value serves as a benchmark for pricing, helping both buyers and sellers understand the value of the property in relation to similar properties in the area. It is essential for both parties to be aware of the current guideline value to facilitate a fair transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar 1st Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What is the land classification for Nehru Nagar 1st Cross Street?

Nehru Nagar 1st Cross Street falls under the Residential Class IV Type - I land classification.

Where can I find the Sub Registrar Office for Nehru Nagar 1st Cross Street?

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

How is stamp duty calculated for properties in Nehru Nagar 1st Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.