Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Nehru Nagar has changed

Over the years, the guideline value of Nehru Nagar has seen significant changes. In 2007, the guideline value was Rs 50 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. Following that, the value rose to Rs 1,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 1,002 per sq.ft. The register has no figures for the years 2002 and 2003.

When examining the changes, from 2007 to 2012, there was an increase of 1,100%. The value then decreased by 33% from 2012 to 2017. A substantial increase of 149% occurred from 2017 to 2023, and from 2023 to 2024, the value remained unchanged at +0%. Overall, from 2007 to 2024, the guideline value has increased by 1,904%.

Guideline values in Sadayankuppam

Sadayankuppam has 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with the median being Rs 1,002 per sq.ft. Nehru Nagar's 2024 figure aligns with this median.

• Nethaji Nagar: Rs 1,002 per sq.ft (2024)
• M.R.B. Nagar: Rs 1,002 per sq.ft (2024)
• Pancavarnam Street: Rs 1,001 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Ponneri High Road: Rs 1,003 per sq.ft (2024)
• Manali New Town (T N H B & C M D A): Rs 1,100 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total to Rs 90,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for additional details.

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

The guideline value is a crucial factor during the registration process of property transactions in Sadayankuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives 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 1,002 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 50 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, reflecting an overall increase of 1,904% over this period.

What is the land classification for Nehru Nagar?

The land classification for Nehru Nagar is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000, leading to a total fee of Rs 90,180.