Guideline Value for NEHRU NAGAR 1ST EXTENSION

Nehru Nagar 1st Extension guideline value

The current guideline value of Nehru Nagar 1st Extension is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Nehru Nagar 1st Extension has changed

The guideline value for Nehru Nagar 1st Extension has seen several revisions over the years. The earliest recorded revision in 2012 set the guideline value at Rs 6,000 per sq.ft. This figure then dropped to Rs 4,020 per sq.ft in 2017, representing a decrease of 33%. The next revision in 2023 increased the value to Rs 6,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Nehru Nagar 1st Extension is above this median.

• Nehru Nagar 1st Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 2nd Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 1st Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for these fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Nagar 1st Extension?

The Neelankarai Sub Registrar Office covers Nehru Nagar 1st Extension. The address is 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When you buy or sell property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. It is important for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Nehru Nagar 1st Extension is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Nehru Nagar 1st Extension?

The land classification for Nehru Nagar 1st Extension is Residential Special Type - II.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property in Nehru Nagar 1st Extension?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.