Guideline Value for NEHRU NAGAR 1ST MAIN ROAD

Nehru Nagar 1st Main Road guideline value

The current guideline value of Nehru Nagar 1st Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This road is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - II.

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

The guideline value for Nehru Nagar 1st Main Road has undergone several revisions over the years. In the 2012 revision, the value was Rs 6,000 per sq.ft, which decreased to Rs 4,020 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 6,000 per sq.ft, and the latest revision in 2024 set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

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

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

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

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, making the total fees Rs 5,94,000. Please 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 Main Road?

The Neelankarai Sub Registrar Office covers Nehru Nagar 1st Main Road, located at 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 an essential factor in property transactions in Perungudi, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in real estate transactions, providing a standard reference for both buyers and sellers. It is crucial for both parties to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Nehru Nagar 1st Main Road 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 increased 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 Main Road?

Nehru Nagar 1st Main Road is classified as Residential Special Type - II.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 5,94,000.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Nehru Nagar 1st Main Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.