Guideline Value for NEHRU NAGAR 3RD LINK ROAD

Nehru Nagar 3rd Link Road guideline value

The current guideline value of Nehru Nagar 3rd 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, classified as Residential Special Type - IV.

How the guideline value of Nehru Nagar 3rd Link Road has changed

In the 2012 revision, the guideline value was Rs 5,000 per sq.ft. This figure then decreased to Rs 3,350 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value saw a significant increase to Rs 5,000 per sq.ft in the 2023 revision, and further rose to Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase. The consistent changes in the guideline value reflect adjustments made by the authorities based on various factors, but specific details about those factors are not provided in the register.

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 guideline value for these streets is Rs 3,300 per sq.ft, placing Nehru Nagar 3rd Link Road's 2024 figure above that median.

• Nehru Nagar 3rd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 3rd Main Road: Rs 6,100 per sq.ft (2024)
• Nehru Nagar 3rd Cross Extension: Rs 6,100 per sq.ft (2024)
• Nehru Nagar 2nd Main Road: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 4th Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 2nd Link Road: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 3rd Link Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar 3rd Link Road?

The Neelankarai Sub Registrar Office covers Nehru Nagar 3rd Link Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Perungudi, as it determines the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the applicable stamp duty and registration fees during the transaction.

When buying or selling property, it is essential to refer to the latest guideline value to ensure compliance with the legal requirements. This value is set by the authorities and is subject to periodic revisions, reflecting changes in the local real estate market.

Frequently asked questions

What is the current guideline value of Nehru Nagar 3rd Link Road?

The current guideline value of Nehru Nagar 3rd 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 back 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 3rd Link Road?

Nehru Nagar 3rd Link Road is classified as Residential Special Type - IV according to the Neelankarai SRO guidelines.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office should I approach for property registration in Nehru Nagar 3rd Link Road?

The Neelankarai Sub Registrar Office is responsible for property registration in Nehru Nagar 3rd Link Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.