Guideline Value for NEHRU STREET (CHOOLAIMEDU HIGH ROAD EAST SIDE)

Nehru Street (Choolaimedu High Road East Side) guideline value

The current guideline value of Nehru Street (Choolaimedu High Road East Side) is Rs 5,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Nehru Street (Choolaimedu High Road East Side) has changed

The guideline value for Nehru Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 1,500 per sq.ft. This increased significantly to Rs 4,900 per sq.ft in 2012, marking a rise of 227%. However, the value then decreased to Rs 3,283 per sq.ft in 2017, which was a decline of 33%. The 2023 revision set the value at Rs 4,900 per sq.ft, and the most recent revision in 2024 has increased it to Rs 5,300 per sq.ft, reflecting an 8% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 253%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value of Nehru Street (Choolaimedu High Road East Side) is below this median.

• Nehru Street (Anna Nedumpathai Left Side): Rs 5,000 per sq.ft (2024)
• Nelson Manickam Road: Rs 11,000 per sq.ft (2024)
• Nerkundram 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Nerkundram Pathai: Rs 6,300 per sq.ft (2024)
• Neelakandan Street: Rs 5,800 per sq.ft (2024)
• New Arockiasamy Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street (Choolaimedu High Road East Side)

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 53,00,000. The stamp duty at 7% would be Rs 3,71,000, and the registration fee at 2% would be Rs 1,06,000, totaling Rs 4,77,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nehru Street (Choolaimedu High Road East Side)?

The Sub Registrar Office that covers Nehru Street (Choolaimedu High Road East Side) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street (Choolaimedu High Road East Side) is Rs 5,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Puliyur?

The median guideline value in Puliyur is Rs 5,800 per sq.ft, while Nehru Street's value is below this median.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the same.

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

The Kodambakkam Sub Registrar Office covers Nehru Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.