Guideline Value for NEHRU STREET 3rd GURUKU STREET

NEHRU STREET 3rd GURUKU STREET guideline value

The current guideline value of NEHRU STREET 3rd GURUKU STREET is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO, and is classified as Commercial Class I Type - III.

How the guideline value of NEHRU STREET 3rd GURUKU STREET has changed

The guideline value for NEHRU STREET 3rd GURUKU STREET has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 150 per sq.ft, which significantly increased to Rs 1,300 per sq.ft in the 2012 revision. However, it dropped to Rs 871 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and this remained unchanged in the 2024 revision as well, indicating a 0% change from 2023 to 2024.

Between the revisions, the most notable change occurred from 2007 to 2012, with an increase of 767%. Following this, there was a decrease of 33% from 2012 to 2017, but the value then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 767%. The register has no figures for the years 2002 and 2003 for this street.

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. The median value among these streets is Rs 1,000 per sq.ft, placing NEHRU STREET 3rd GURUKU STREET's 2024 figure above this median.

• 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 (Kabilar Nagar): 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 3rd GURUKU STREET

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 together to 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.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers NEHRU STREET 3rd GURUKU STREET?

NEHRU STREET 3rd GURUKU STREET is covered by the Manavalanagar Sub Registrar Office, located at Sub Registrar Office, Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002. 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 during the registration process when buying or selling property in Vengathur. 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 with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the state receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of NEHRU STREET 3rd GURUKU STREET?

The current guideline value of NEHRU STREET 3rd 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 changed significantly from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017. It remained at Rs 1,300 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value for streets in Vengathur?

The median guideline value for streets in Vengathur is Rs 1,000 per sq.ft, with NEHRU STREET 3rd GURUKU STREET's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for NEHRU STREET 3rd GURUKU STREET?

The Manavalanagar Sub Registrar Office handles registrations for NEHRU STREET 3rd GURUKU STREET, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002.