Guideline Value for NEHRU NAGAR 4TH STREET

Nehru Nagar 4th Street guideline value

The current guideline value of Nehru Nagar 4th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Nehru Nagar 4th Street has changed

The guideline value for Nehru Nagar 4th Street has seen significant changes over the years. In 2002, the value was Rs 238 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a rise of 152%. The value then rose to Rs 1,500 per sq.ft in 2007, a substantial increase of 150%. Following that, in 2012, the value was Rs 5,000 per sq.ft, reflecting a remarkable increase of 233% from the previous revision. However, there was a decrease to Rs 3,350 per sq.ft in 2017, which represented a decline of 33%. The value then increased to Rs 5,000 per sq.ft in 2023, showing a rise of 49%, before reaching the current value of Rs 5,500 per sq.ft in 2024, an increase of 10%.

It is important to note that the register has no figure for this street in the years not mentioned. Overall, from 2002 to 2024, the guideline value has increased by 2,211%.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Nehru Nagar 4th Street is above this median.

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

Stamp duty and registration fee for property in Nehru Nagar 4th Street

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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost for stamp duty and registration fees Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar 4th Street?

The Sub Registrar Office that covers Nehru Nagar 4th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

Additionally, the guideline value influences the stamp duty and registration fees applicable to the transaction. As these fees are calculated based on the guideline value or the sale price, whichever is higher, understanding the guideline value helps in accurately estimating the total costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar 4th Street?

The current guideline value of Nehru Nagar 4th Street 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 increased from Rs 238 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, representing an overall increase of 2,211%.

What is the land classification of Nehru Nagar 4th Street?

Nehru Nagar 4th Street is classified as Residential Special Type - IV.

Where is the Neelankarai Sub Registrar Office located?

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 the stamp duty calculated for property transactions?

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