Guideline Value for NEHRU NAGAR 2ND EXTENSION

Nehru Nagar 2nd Extension guideline value

The current guideline value of Nehru Nagar 2nd 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, classified as Residential Special Type - II.

How the guideline value of Nehru Nagar 2nd Extension has changed

The guideline value for Nehru Nagar 2nd Extension has seen several revisions over the years. In 2012, the guideline value was Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and further rose to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was notable at 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the 2024 guideline value for Nehru Nagar 2nd Extension above this median.

• Nehru Nagar 2nd Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 2nd Main Road: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 3rd Cross Extension: Rs 6,100 per sq.ft (2024)
• Nehru Nagar 3rd (Cross) Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 2nd Extension

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

Which Sub Registrar Office covers Nehru Nagar 2nd Extension?

The Neelankarai Sub Registrar Office covers Nehru Nagar 2nd Extension, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Perungudi, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. This value serves as a benchmark for the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, they must consider the guideline value to calculate the total costs involved. This includes the necessary stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nehru Nagar 2nd Extension?

The current guideline value of Nehru Nagar 2nd 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 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 2nd Extension?

Nehru Nagar 2nd Extension is classified as Residential Special Type - II. This classification affects the guideline value applicable to properties in this area.

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 are stamp duty and registration fees calculated in Perungudi?

Stamp duty and registration fees in Perungudi are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.