Guideline Value for NEHRU STREET (KABILAR NAGAR)

Nehru Street (Kabilar Nagar) guideline value

The current guideline value of Nehru Street (Kabilar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Nehru Street (Kabilar Nagar) has changed

In the 2007 revision, the guideline value was Rs 150 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 1,300 per sq.ft, marking an increase of 767%. However, from 2012 to 2017, the value decreased to Rs 871 per sq.ft, reflecting a decline of 33%. The subsequent revisions saw an increase, with the 2017 figure at Rs 871 per sq.ft, which then rose to Rs 1,300 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023. The guideline value has remained unchanged from 2023 to 2024.

The register has no figures for the years 2002 and 2003 regarding this street. Overall, from 2007 to 2024, the guideline value has increased by 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Nehru Street (Kabilar Nagar) is above this median, reflecting a guideline value of Rs 1,300 per sq.ft.

• NEHRU STREET 3rd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 2nd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 1st GURUKU STREET: Rs 1,300 per sq.ft (2024)
• Nehru Street: Rs 700 per sq.ft (2024)
• Nedhaji Street: Rs 700 per sq.ft (2024)
• Navaneetham Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street (Kabilar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru Street (Kabilar Nagar)?

The Sub Registrar Office that covers Nehru Street (Kabilar Nagar) is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Vengathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value acts as a benchmark. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Nehru Street (Kabilar Nagar)?

The current guideline value of Nehru Street (Kabilar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with a notable increase from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, followed by fluctuations in subsequent years, ultimately reaching Rs 1,300 per sq.ft in both 2023 and 2024.

What is the land classification for Nehru Street (Kabilar Nagar)?

Nehru Street (Kabilar Nagar) is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property in Nehru Street (Kabilar Nagar)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for Nehru Street (Kabilar Nagar)?

The Sub Registrar Office covering Nehru Street (Kabilar Nagar) is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.