Guideline Value for NEHRU STREET 2nd GURUKU STREET

NEHRU STREET 2nd GURUKU STREET guideline value

The current guideline value of NEHRU STREET 2nd GURUKU STREET is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the jurisdiction of the Manavalanagar SRO. The land classification for this area is Commercial Class I Type - III.

How the guideline value of NEHRU STREET 2nd GURUKU STREET has changed

Over the years, the guideline value for NEHRU STREET 2nd GURUKU STREET has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 150 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, between 2012 and 2017, the value decreased by 33% to Rs 871 per sq.ft. The subsequent revisions in 2023 and 2024 maintained the value at Rs 1,300 per sq.ft, reflecting no change.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 1,300 per sq.ft. Overall, from 2007 to 2024, there has been a substantial increase of 767%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median guideline value in this area is Rs 1,000 per sq.ft, placing NEHRU STREET 2nd GURUKU STREET above this median.

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

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

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NEHRU STREET 2nd GURUKU STREET?

The Sub Registrar Office that covers NEHRU STREET 2nd GURUKU STREET 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 plays a crucial role during the registration of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with local regulations. This helps maintain transparency and fairness in the property market.

Frequently asked questions

What is the current guideline value of NEHRU STREET 2nd GURUKU STREET?

The current guideline value of NEHRU STREET 2nd GURUKU STREET 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 increased from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 767% over the years.

What is the land classification for NEHRU STREET 2nd GURUKU STREET?

The land classification for NEHRU STREET 2nd GURUKU STREET is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for NEHRU STREET 2nd GURUKU STREET?

The Sub Registrar Office for NEHRU STREET 2nd GURUKU STREET is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Vengathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 1,17,000.