Guideline Value for NEHRU NAGAR ROAD

Nehru Nagar Road guideline value

The current guideline value of Nehru Nagar Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar Road has changed

Over the years, the guideline value of Nehru Nagar Road has seen significant changes. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. This marked a substantial rise of 300%. However, in the 2017 revision, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

When considering the overall change from 2007 to 2024, there has been an increase of 340%. The register does not provide figures for the revisions in 2002 and 2003 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 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. Nehru Nagar Road's 2024 figure is above this median.

• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Nehru Nagar 1 St Street - 13 Th Cross Street: Rs 3,900 per sq.ft (2024)
• NEHRU NAGAR 14th CROSS STREET: Rs 3,900 per sq.ft (2024)
• Netaji Street: Rs 3,300 per sq.ft (2024)
• Neelankarai To Thoraipakkam Link Road: Rs 3,300 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Nagar Road?

The Sub Registrar Office that covers Nehru Nagar Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the taxes are calculated accurately. This ensures a transparent process for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Nehru Nagar Road?

The current guideline value of Nehru Nagar Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the stamp duty rate for properties in Nehru Nagar Road?

The stamp duty rate for properties in Nehru Nagar Road is 7% of the guideline value or sale price, whichever is higher.

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.

What are the guideline values for other streets in Okkiyamthuraipakkam?

Other streets in Okkiyamthuraipakkam have varying guideline values, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with Nehru Nagar Road being one of the higher valued streets at Rs 4,400 per sq.ft.