Guideline Value for NEHRU NAGAR EXTN.

Nehru Nagar Extn. guideline value

The current guideline value of Nehru Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Nehru Nagar Extn. has changed

The guideline value for Nehru Nagar Extn. has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 78 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a change of +28%. In 2007, the value rose significantly to Rs 400 per sq.ft, reflecting a change of +300%. The 2012 revision maintained the value at Rs 1,500 per sq.ft, with no change from the previous revision in 2012. In 2023, the value remained at Rs 1,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 1,650 per sq.ft, representing a change of +10%.

It is important to note that there is no figure available for this street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by +2015%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Nehru Nagar Extn.

• Nehru Nagar: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Neelavathy Nagar (Neela Nagar): Rs 2,750 per sq.ft (2024)
• Nethaji Street: Rs 1,650 per sq.ft (2024)
• New Balaji Nagar: Rs 1,320 per sq.ft (2024)
• New Colony: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Extn.?

The Sub Registrar Office that covers Nehru Nagar Extn. is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar Extn.?

The current guideline value of Nehru Nagar Extn. is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 78 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of +2015%.

What is the registration office for Nehru Nagar Extn.?

The registration office for Nehru Nagar Extn. is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same amount.

What is the land classification for Nehru Nagar Extn.?

The land classification for Nehru Nagar Extn. is Residential Class IV Type - I, indicating the type of residential use permitted in the area.