Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the current 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Nehru Street's 2024 guideline value is below this median.

• Nehru Nagar First Street: Rs 3,850 per sq.ft (2024)
• New Colony: Rs 3,850 per sq.ft (2024)
• Narayanaswamy Street: Rs 2,200 per sq.ft (2024)
• Narayanaswamy 2nd Street: Rs 2,200 per sq.ft (2024)
• Narayanaswamy 1st Street: Rs 2,200 per sq.ft (2024)
• New Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Issa Pallavaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is assessed to ensure that the transaction is registered at an appropriate value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Nehru Street?

The Sub Registrar Office for Nehru Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the stamp duty rate for properties in Nehru Street?

The stamp duty rate for properties in Nehru Street is 7% of the guideline value or the sale price, whichever is higher.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class I Type - III under the guideline value register.