Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Nehru Nagar has changed

Over the years, the guideline value for Nehru Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 4,000 per sq.ft. The register does not contain figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

The guideline value has progressed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024. This increase reflects the adjustments made in the valuation of properties in the area.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing Nehru Nagar's 2024 figure above the median.

• Nethaji Nagar: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 1st Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 2nd Cross Street: Rs 2,380 per sq.ft (2024)
• Nethaji Nagar 3rd Cross Street: Rs 2,380 per sq.ft (2024)
• Narathapuri Suguna Street: Rs 2,380 per sq.ft (2024)
• Narathapuri Srinivasan Street: Rs 2,920 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 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 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is referenced to ensure that the appropriate fees are calculated. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar 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 changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. The register does not contain figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for property in Nehru Nagar?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Nehru Nagar?

The Pallavaram Sub Registrar Office covers Nehru Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values for other streets in Hastinapuram?

Other streets in Hastinapuram have varying guideline values, with rates ranging from Rs 1,650 to Rs 4,400 per sq.ft. For example, Nethaji Nagar has a guideline value of Rs 2,380 per sq.ft in 2024.