Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - II land classification.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 414 per sq.ft. This increased to Rs 456 per sq.ft in 2003, marking a 10% rise. Following this, the value rose by 54% to Rs 700 per sq.ft in 2007. The 2012 revision saw a substantial increase of 471%, bringing the value to Rs 4,000 per sq.ft. However, in 2017, the value dropped by 33% to Rs 2,680 per sq.ft. The value then increased by 49% to Rs 4,000 per sq.ft in 2023, and is now set at Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

There are no figures available for revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 963%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which indicates that Nehru Nagar's 2024 figure is below this median.

• Nehru Street: Rs 5,000 per sq.ft (2024)
• Nehru Street Ist Lane: Rs 4,400 per sq.ft (2024)
• Natarajapuram Street: Rs 4,400 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Narasimmalu Street: Rs 6,000 per sq.ft (2024)
• New Natarajapuram Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the 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, totaling 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 use the 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 Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. This value is set by the government and is updated periodically to reflect market conditions.

When a property transaction occurs, the buyer must be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 414 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 963% over this period.

What are the stamp duty rates for property in Nehru Nagar?

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

Where is the Sub Registrar Office for Nehru Nagar located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Arumbakkam?

The median guideline value for streets in Arumbakkam is Rs 6,000 per sq.ft, with Nehru Nagar's value being below this median.