Guideline Value for NEHRU NAGAR PHASE-IV

Nehru Nagar Phase-IV guideline value

The current guideline value of Nehru Nagar Phase-IV is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Karunilam village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar Phase-IV has changed

Starting from the 2012 revision, the guideline value was Rs 500 per sq.ft. In the 2017 revision, it dropped to Rs 335 per sq.ft, marking a decrease of 33%. However, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft. The 2023 to 2024 revision saw no change, indicating stability in the guideline value during this period.

Guideline values in Karunilam

In Karunilam, there are 35 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 1,200 per sq.ft. The median value for these streets is Rs 501 per sq.ft, placing Nehru Nagar Phase-IV's 2024 figure below that median.

• Nehru Nagar: Rs 500 per sq.ft (2024)
• Mgm Nagar: Rs 700 per sq.ft (2024)
• Metro Prasana Garden Phase -II: Rs 500 per sq.ft (2024)
• Metro Prasana Garden House Site Scheme: Rs 700 per sq.ft (2024)
• Metro Elite Home: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar Phase - V: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Phase-IV

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar Phase-IV?

The Chengleput Joint II Sub Registrar Office covers Nehru Nagar Phase-IV. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Karunilam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

During the registration process, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Nehru Nagar Phase-IV?

The current guideline value of Nehru Nagar Phase-IV is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being Rs 500 per sq.ft in both 2023 and 2024. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012, indicating fluctuations in values over the years.

What is the land classification of Nehru Nagar Phase-IV?

Nehru Nagar Phase-IV is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in the area.

How is stamp duty calculated in Nehru Nagar Phase-IV?

Stamp duty in Nehru Nagar Phase-IV is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000.