Guideline Value for NEHRU NAGAR 2ND STREET

Nehru Nagar 2nd Street guideline value

The current guideline value of Nehru Nagar 2nd Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village, under the Avadi SRO, and is classified as Residential Special Type - I.

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

The guideline value for Nehru Nagar 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017, reflecting a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking an increase of 87%. The latest revision in 2024 set the guideline value at Rs 1,625 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Nehru Nagar 2nd Street. Overall, the guideline value has increased by 35% from 2012 to 2024.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median guideline value for these streets is Rs 1,625 per sq.ft, which is the same as the current value for Nehru Nagar 2nd Street.

• Nehru Nagar 3rd Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 4th Street: Rs 1,625 per sq.ft (2024)
• Nehru Bajar (Commercial): Rs 2,970 per sq.ft (2024)
• Nehru Street Konambedu: Rs 2,050 per sq.ft (2024)
• Nethaji St, Kamarajar Nagar: Rs 950 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,625 per sq.ft, the total guideline value amounts to Rs 16,25,000. The stamp duty is charged at 7%, which totals Rs 1,13,750, and the registration fee at 2% amounts to Rs 32,500. Therefore, the total cost for stamp duty and registration fees together is Rs 1,46,250. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar 2nd Street?

The Sub Registrar Office that covers Nehru Nagar 2nd Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Paruthipattu. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that the guideline value is set by the government and is subject to periodic revisions.

When registering a property, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Nehru Nagar 2nd Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,625 per sq.ft in 2024.

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

Nehru Nagar 2nd Street is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Where is the Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.