Guideline Value for NEHRU NAGAR 3RD STREET

Nehru Nagar 3rd Street guideline value

The current guideline value of Nehru Nagar 3rd Street is Rs 1,625 per sq.ft, effective from 1 July 2024. This street is located in Paruthipattu village and falls under the Avadi SRO, classified as Residential Special Type - I.

How the guideline value of Nehru Nagar 3rd Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure saw a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, which represents an increase of 87%. The latest revision in 2024 has raised the guideline value to Rs 1,625 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for Nehru Nagar 3rd Street. Overall, from 2012 to 2024, the guideline value has increased by 35%.

Guideline values in Paruthipattu

In total, there are 486 streets in Paruthipattu under the Avadi SRO that have a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, which matches the guideline value of Nehru Nagar 3rd Street.

• Nehru Nagar 4th Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 1,625 per sq.ft (2024)
• Nehru Nagar 1st 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 3rd Street

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

Which Sub Registrar Office covers Nehru Nagar 3rd Street?

The Sub Registrar Office that covers Nehru Nagar 3rd 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 is a crucial factor in the registration process of property transactions in Paruthipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is important for buyers to be aware of the guideline value to avoid overpaying, while sellers must ensure that their asking price aligns with this value to facilitate a smooth transaction.

Frequently asked questions

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

The current guideline value of Nehru Nagar 3rd Street is Rs 1,625 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, then increasing to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,625 per sq.ft in 2024.

What is the land classification of Nehru Nagar 3rd Street?

Nehru Nagar 3rd Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Nehru Nagar 3rd Street?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 16,25,000 would incur a stamp duty of Rs 1,13,750 and a registration fee of Rs 32,500.

Which office handles registrations for Nehru Nagar 3rd Street?

The Avadi Sub Registrar Office handles registrations for Nehru Nagar 3rd Street. It is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.