Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Kurumpirai village under the Salavakkam Sub Registrar Office (SRO), and it is classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 67 per sq.ft. However, from 2017 to the 2023 revision, the value increased significantly by 49% back to Rs 100 per sq.ft. The 2024 revision maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the values from 2012 to 2024, the guideline value has remained stable, with a net change of 0% during this period.

Guideline values in Kurumpirai

In Kurumpirai, there are 9 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 134 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, which is equal to the 2024 figure for Nehru Nagar.

• Om Sakthi Sai Nagar: Rs 100 per sq.ft (2024)
• Rainbow Nagar: Rs 102 per sq.ft (2024)
• Rainbow Nagar Phase-1: Rs 102 per sq.ft (2024)
• Senthamizh Nagar: Rs 100 per sq.ft (2024)
• Iswaryam Nagar: Rs 100 per sq.ft (2024)
• Imanuvel Nagar: Rs 100 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 100 per sq.ft, the total guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total cost for these fees to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kurumpirai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that both buyers and sellers adhere to a standard valuation.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a fair valuation process in the real estate market.

Frequently asked questions

What is the current guideline value for Nehru Nagar?

The current guideline value for Nehru Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Nagar has remained at Rs 100 per sq.ft from 2012 to 2024, with a drop to Rs 67 per sq.ft in 2017 before returning to Rs 100 per sq.ft in 2023 and 2024.

What are the other streets in Kurumpirai with their guideline values?

Other streets in Kurumpirai include Om Sakthi Sai Nagar at Rs 100 per sq.ft, Rainbow Nagar at Rs 102 per sq.ft, and several others, with the median value being Rs 100 per sq.ft.

What fees are applicable when registering property in Nehru Nagar?

When registering property in Nehru Nagar, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 9,000.

Where can I find the Sub Registrar Office for Nehru Nagar?

The Sub Registrar Office for Nehru Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.