Guideline Value for NEHRU NAGAR 1ST LINK ROAD

Nehru Nagar 1st Link Road guideline value

The current guideline value of Nehru Nagar 1st Link Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Nehru Nagar 1st Link Road has changed

The guideline value for Nehru Nagar 1st Link Road has undergone several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, and the most recent 2024 revision has set it at Rs 5,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, and then by 10% from 2023 to 2024. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

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 Link Road is above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total cost of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Nagar 1st Link Road?

The Neelankarai Sub Registrar Office covers Nehru Nagar 1st Link Road. 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 Perungudi

The guideline value is an essential factor in the registration process when buying or selling property in Perungudi. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

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

The current guideline value of Nehru Nagar 1st Link Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification for Nehru Nagar 1st Link Road?

Nehru Nagar 1st Link Road is classified as Residential Special Type - IV.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Nehru Nagar 1st Link Road located?

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