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 Vallancheri village and falls under the Chengleput Joint II SRO, classified as 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 seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 600 per sq.ft, followed by the current 2024 revision which increased it to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, indicating that Nehru Street(Ward-21) is 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 at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that the 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(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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallancheri. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. Buyers and sellers must be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property, which can impact the overall cost of the transaction.

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 through several revisions: from Rs 600 in 2012 to Rs 402 in 2017, then to Rs 600 in 2023, and finally to Rs 660 in 2024.

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

Nehru Street(Ward-21) is classified as Residential Class II Type - I under the Chengleput Joint II SRO.

What are the stamp duty rates for properties in Vallancheri?

The stamp duty rate for property transactions in Vallancheri is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nehru Street(Ward-21) located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.