Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Perambur village under the Purasaivakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. Starting from 2002, the guideline value was Rs 336 per sq.ft. It increased to Rs 369 per sq.ft in 2003, followed by a significant rise to Rs 550 per sq.ft in 2007. The value then jumped to Rs 2,000 per sq.ft in 2012, but saw a decline to Rs 1,340 per sq.ft in 2017. The guideline value then rose again to Rs 2,000 per sq.ft in 2023 and is currently set at Rs 2,200 per sq.ft from 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a notable increase of 49%. However, there was a decline of 33% from 2012 to 2017. The rise from 2007 to 2012 was substantial at 264%, and the increase from 2003 to 2007 was 49%. Overall, from 2002 to 2024, the guideline value has increased by 555%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Nehru Nagar is below this median.

• Nehru Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Jyothi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Jyothi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehruji Jothi Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Cross Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use 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 Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property in Perambur, the guideline value helps in assessing the financial aspects of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 555% over this period.

What is the stamp duty for property in Nehru Nagar?

The stamp duty for property in Nehru Nagar is 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where is the Sub Registrar Office for Nehru Nagar located?

The Sub Registrar Office for Nehru Nagar is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam registration zone.

What is the land classification of Nehru Nagar?

Nehru Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.