Guideline Value for NEHRU NAGAR 2ND LINK ROAD

Nehru Nagar 2nd Link Road guideline value

The current guideline value of Nehru Nagar 2nd Link Road is Rs 5,500 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 - IV.

How the guideline value of Nehru Nagar 2nd Link Road has changed

Looking at the revisions over the years, the guideline value for Nehru Nagar 2nd Link Road has seen significant changes. In 2012, the value was Rs 5,000 per sq.ft, which then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value increased to Rs 5,000 per sq.ft in 2023 and further rose to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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. The median value for these streets is Rs 3,300 per sq.ft, indicating that Nehru Nagar 2nd Link Road's 2024 guideline value is above this median.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, bringing the total 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru Nagar 2nd Link Road?

The Neelankarai Sub Registrar Office covers Nehru Nagar 2nd 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 plays a crucial role in the registration process when buying or selling property in Perungudi. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Nehru Nagar 2nd 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 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 2nd Link Road?

Nehru Nagar 2nd Link Road 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 stamp duty calculated for properties in Nehru Nagar 2nd Link Road?

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