Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Ninna Karai village under the Chengleput Joint II SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which reflects a 10% increase from Rs 500 per sq.ft in the 2023 revision. The register does not have figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, the guideline values for Nehru Nagar were not recorded in the register. The 2024 figure is significantly lower than the median guideline value of Rs 1,100 per sq.ft for the 449 streets in Ninna Karai, indicating its relative positioning in the area.

Guideline values in Ninna Karai

In Ninna Karai, the guideline values vary widely, ranging from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. Nehru Nagar's 2024 figure of Rs 550 per sq.ft is below this median. Here are some other streets in Ninna Karai with their respective guideline values:

• Nethaji Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Nanthanar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• New Balaji Nagar Barathiar Street (Ward -3): Rs 990 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar?

Nehru Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Nagar has changed from Rs 500 per sq.ft in 2023 to Rs 550 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Ninna Karai?

Other streets in Ninna Karai have varying guideline values, with Nethaji Street at Rs 1,321 per sq.ft, Nanthanar Street at Rs 1,760 per sq.ft, and New Balaji Nagar Barathiar Street at Rs 990 per sq.ft, among others.

How is stamp duty calculated for properties in Nehru Nagar?

Stamp duty for properties in Nehru Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot valued at Rs 5,50,000 incurs a stamp duty of Rs 38,500 at 7%.

Which office handles property registrations for Nehru Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Nehru Nagar. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.