Guideline Value for NEHRU NAGAR 5TH STREET

Nehru Nagar 5th Street guideline value

The current guideline value of Nehru Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Nehru Nagar 5th Street has changed

The guideline value for Nehru Nagar 5th Street has undergone several revisions over the years. The most recent revision, effective from 1 July 2024, set the value at Rs 2,200 per sq.ft, an increase of 10% from the previous year's figure of Rs 2,000 per sq.ft established in 2023. Prior to that, the guideline value remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

Looking further back, the guideline value saw a significant increase from Rs 550 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, marking a rise of 264%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Nehru Nagar 5th Street's 2024 guideline value below that median.

• Nehru Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar 5th Street?

The Sub Registrar Office that covers Nehru Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Perambur as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations during the registration process. This helps in avoiding any disputes regarding the valuation of the property.

Frequently asked questions

What is the current guideline value of Nehru Nagar 5th Street?

The current guideline value of Nehru Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Nehru Nagar 5th Street?

Nehru Nagar 5th Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Nehru Nagar 5th Street?

The Sub Registrar Office for Nehru Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nehru Nagar 5th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.