Guideline Value for NEHRU NAGAR

Nehru Nagar guideline value

The current guideline value of Nehru Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This locality is situated in Vellivoyal village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Nehru Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the guideline value at Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 715 per sq.ft, with the median being Rs 440 per sq.ft. Nehru Nagar's 2024 figure matches this median value.

• Mrf Nagar: Rs 550 per sq.ft (2024)
• M G R Nagar: Rs 275 per sq.ft (2024)
• Meenachi Nagar: Rs 440 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Maruthi Nagar: Rs 440 per sq.ft (2024)
• P.H. Road: Rs 550 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty, charged at 7%, would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and 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 more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value serves as a reference point for the transaction, ensuring that the sale price is aligned with the established rates in the area. This helps in maintaining transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2017 revision at Rs 268 per sq.ft, the guideline value rose to Rs 400 per sq.ft in 2023, and then to Rs 440 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the guideline values of other streets in Vellivoyal?

Other streets in Vellivoyal have varying guideline values, with rates ranging from Rs 275 to Rs 715 per sq.ft. Nehru Nagar's value of Rs 440 per sq.ft is equal to the median of these values.

What are the stamp duty and registration fees for property in Nehru Nagar?

The stamp duty for a property valued at Rs 4,40,000 would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nehru Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. This office handles the registration of properties in Nehru Nagar.