Guideline Value for NEHRU NAGAR 6TH STREET

Nehru Nagar 6th Street guideline value

The current guideline value of Nehru Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Nehru Nagar 6th Street has changed

The guideline value for Nehru Nagar 6th Street has undergone several revisions over the years. The oldest recorded figure is from 2007, where the value was Rs 550 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a change of +264%. The value remained unchanged at Rs 2,000 per sq.ft until the next revision in 2023, when it increased to Rs 2,200 per sq.ft, reflecting a change of +10%.

From 2007 to 2024, the overall increase in the guideline value is +300%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Perambur

In Perambur, there are a total of 1114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which means that Nehru Nagar 6th Street's 2024 figure is below this median.

• Nehru Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 4th 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to 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 to estimate the fees for your property transactions.

Which Sub Registrar Office covers Nehru Nagar 6th Street?

The Sub Registrar Office that covers Nehru Nagar 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value serves as a benchmark for property transactions in Perambur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration.

It is crucial for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Nagar 6th Street?

The current guideline value of Nehru Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 550 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of +300%.

What is the registration office for Nehru Nagar 6th Street?

The registration office for Nehru Nagar 6th 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 6th Street?

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

Are there other streets with the same guideline value in Perambur?

Yes, several other streets in Perambur have the same guideline value of Rs 2,200 per sq.ft, including Nehru Nagar 7th Street, Nehru Nagar 5th Street, and others.