Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

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

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 335 per sq.ft, which was then increased to Rs 500 per sq.ft in the 2023 revision. The latest 2024 revision has raised the guideline value further to Rs 550 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The rise from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023 represents a 49% increase.

Guideline values in Minjur

In Minjur, a total of 179 streets under the Ponneri SRO have a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. Nehru Nagar's 2024 figure of Rs 550 per sq.ft is equal to the median value of Rs 550 per sq.ft for the village.

• Nethaji Nagar & Ext I&ii: Rs 550 per sq.ft (2024)
• Narasimha Avenue(Phase I&ii): Rs 880 per sq.ft (2024)
• Nandhiyam Pakkam Road: Rs 550 per sq.ft (2024)
• New Padmavathy City: Rs 550 per sq.ft (2024)
• Nadu Theru: Rs 550 per sq.ft (2024)
• M.V.L.Nagar: Rs 880 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, and 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.

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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that the government receives the appropriate revenue from property sales. Buyers and sellers should be aware of the guideline value to avoid any discrepancies 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 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and now to Rs 550 per sq.ft in 2024, marking a total increase of 64% since 2017.

What is the land classification for Nehru Nagar?

Nehru Nagar is classified as Residential Class II Type - I, which indicates its designation for residential use.

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

The Sub Registrar Office for Nehru Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for properties in Nehru Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the stamp duty would be Rs 38,500.