Guideline Value for NEHRU STREET(WARD-21)

Nehru Street(Ward-21) guideline value

The current guideline value of Nehru Street(Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehru Street(Ward-21) has changed

The guideline value for Nehru Street(Ward-21) has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft. This was followed by a significant increase to Rs 600 per sq.ft in 2023, and then a further increase to Rs 660 per sq.ft in 2024, marking a 10% rise from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

In Potheri village, there are 129 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,970 per sq.ft, with a median value of Rs 770 per sq.ft. Nehru Street(Ward-21) has a guideline value below this median.

• Neenjili Amman Koil Stret (Ward-21): Rs 660 per sq.ft (2024)
• Narasimman Street (Ward-21): Rs 660 per sq.ft (2024)
• Narasimman Nagar (Ward-21): Rs 1,980 per sq.ft (2024)
• Nandhakumar Street, Thailavaram (Ward-21): Rs 660 per sq.ft (2024)
• Ottakoothar Street (Ward-20): Rs 880 per sq.ft (2024)
• Muthulinga Devar Street (Ward-21): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street(Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, resulting in a total cost of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street(Ward-21)?

The Sub Registrar Office that covers Nehru Street(Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial metric used during property registration in Potheri. It helps determine the stamp duty and registration fees that need to be paid when a property changes hands. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value can assist buyers and sellers in making informed decisions during property transactions. It is advisable to check the latest revisions to ensure compliance with the current rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nehru Street(Ward-21)?

The current guideline value of Nehru Street(Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with notable fluctuations in between, including a drop to Rs 402 per sq.ft in 2017.

What is the land classification for Nehru Street(Ward-21)?

Nehru Street(Ward-21) is classified as Residential Class II Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Nehru Street(Ward-21)?

The Chengleput Joint II Sub Registrar Office covers Nehru Street(Ward-21) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Potheri?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.