Guideline Value for NEHRU NAGAR 2ND (CROSS) STREET

Nehru Nagar 2nd (Cross) Street guideline value

The current guideline value of Nehru Nagar 2nd (Cross) Street 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 2nd (Cross) Street has changed

The guideline value for Nehru Nagar 2nd (Cross) Street has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 233%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 5,000 per sq.ft in 2023, and further rose to Rs 5,500 per sq.ft in 2024, representing a 10% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 shows an increase of 267%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a guideline value for 2024, 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 2nd (Cross) Street above this median.

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

Stamp duty and registration fee for property in Nehru Nagar 2nd (Cross) Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to 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 detailed calculations.

Which Sub Registrar Office covers Nehru Nagar 2nd (Cross) Street?

The Neelankarai Sub Registrar Office covers Nehru Nagar 2nd (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 Perungudi

The guideline value is a crucial factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Perungudi, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a fair value, reflecting the current market conditions as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nehru Nagar 2nd (Cross) Street?

The current guideline value of Nehru Nagar 2nd (Cross) Street 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 seen several revisions, starting from Rs 1,500 per sq.ft in 2007, increasing to Rs 5,000 in 2012, then decreasing to Rs 3,350 in 2017, and rising to Rs 5,000 in 2023 before reaching Rs 5,500 in 2024.

What is the land classification for Nehru Nagar 2nd (Cross) Street?

Nehru Nagar 2nd (Cross) Street is classified as Residential Special Type - IV.

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 properties in Nehru Nagar 2nd (Cross) Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.