Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Perungudi village under the Neelankarai SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - IV.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 3,350 per sq.ft. The 2023 revision brought it back up to Rs 5,000 per sq.ft, and the latest 2024 revision has increased it further to Rs 5,500 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The changes between the revisions include a 233% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that Nehru Nagar's current value is above this median.

• Nehru Nagar 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Extension: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 1st Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 2nd (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 2nd Extension: Rs 6,600 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 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000. Together, the total cost for stamp duty and registration would be Rs 4,95,000. 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 to estimate the fees applicable to your property transaction.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when transferring property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification for Nehru Nagar?

Nehru Nagar is classified as Residential Special Type - IV, which indicates its zoning for residential purposes.

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

The stamp duty rate for properties in Nehru Nagar is 7%, calculated on the higher of the guideline value or the sale price. The registration fee is 2% of the guideline value.

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

The Neelankarai Sub Registrar Office covers Nehru Nagar and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.