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 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Nehru Nagar 2nd Cross Street has changed

The guideline value for Nehru Nagar 2nd 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. However, it then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 300% from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Nehru Nagar 2nd Cross Street's 2024 figure below that median.

• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar: Rs 2,200 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 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, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Nehru Nagar 2nd 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 is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the total cost of the transaction.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 300% over this period.

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

Nehru Nagar 2nd Cross Street is classified as Residential Class IV Type - I, which indicates its suitability for residential development.

Where can I find more information about stamp duty and registration fees?

For detailed calculations of stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which office handles registrations for Nehru Nagar 2nd Cross Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for Nehru Nagar 2nd Cross Street.