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 Thailavaram 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 of Nehru Street(Ward-21) has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, and the latest revision in 2024 has raised it to Rs 660 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. Subsequently, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value per sq.ft.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Nehru Street(Ward-21) below this median at Rs 660 per sq.ft.

• Neenjili Amman Koil Street (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 881 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total cost for stamp duty and registration fee would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and 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 Thailavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Thailavaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

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 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What are the other streets in Thailavaram with similar guideline values?

Other streets in Thailavaram with a guideline value of Rs 660 per sq.ft include Neenjili Amman Koil Street, Narasimman Street, Nandhakumar Street, and Muthulinga Devar Street.

What fees are associated with buying property in Nehru Street(Ward-21)?

When buying property in Nehru Street(Ward-21), buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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.