Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

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

How the guideline value of Nehru Nagar has changed

In the 2017 revision, the guideline value for Nehru Nagar was Rs 368 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 550 per sq.ft. The latest revision in 2024 also maintains this figure of Rs 550 per sq.ft, showing no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 49% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kuthanoor

Kuthanoor village has a total of 30 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 800 per sq.ft, placing Nehru Nagar's 2024 figure below this median.

• Om Sakthi Avenue Phase -I: Rs 1,000 per sq.ft (2024)
• Manickapuram (Nagar): Rs 800 per sq.ft (2024)
• Praney Square: Rs 600 per sq.ft (2024)
• Rajan Nagar: Rs 550 per sq.ft (2024)
• Ramakrishna Avenue: Rs 1,120 per sq.ft (2024)
• Saradhambal Nagar: Rs 550 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 fees 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.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar?

Nehru Nagar is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kuthanoor. It serves as the minimum value at which properties must be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are recorded accurately and transparently.

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 was Rs 368 per sq.ft in 2017 and has remained at Rs 550 per sq.ft in both the 2023 and 2024 revisions, reflecting a 49% increase overall from 2017 to 2024.

What are the guideline values of other streets in Kuthanoor?

Other streets in Kuthanoor have varying guideline values, with rates ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 800 per sq.ft, while Nehru Nagar's value is below this median.

What fees are associated with property registration in Nehru Nagar?

For a 1,000 sq.ft property at the guideline value of Rs 550 per sq.ft, the total guideline value is Rs 5,50,000. The stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where is the Sub Registrar Office for Nehru Nagar located?

The Gooduvancheri Sub Registrar Office, which covers Nehru Nagar, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.