Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nehru Street has changed

Over the years, the guideline value of Nehru Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. This marked a significant decline of 33%. However, from 2017 to 2023, the value increased by 24%, reaching Rs 1,500 per sq.ft. The most recent revision in 2024 shows a substantial increase to Rs 1,980 per sq.ft, reflecting a 32% rise from the previous year.

It is important to note that there are no figures available for Nehru Street in the revisions of 2002, 2003, and 2007. Overall, comparing the 2012 to 2024 revisions, the guideline value has increased by 10%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is the same as the guideline value for Nehru Street.

• Nethaji Street: Rs 1,100 per sq.ft (2024)
• Nandanar Street: Rs 1,100 per sq.ft (2024)
• Nandanan Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,980 per sq.ft (2024)
• M.G.R.Street: Rs 1,980 per sq.ft (2024)
• Panchayat Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, leading to a total of Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Street?

Nehru Street falls under the jurisdiction of 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 Thiruvancheri

The guideline value is a crucial factor in the registration process of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential for buyers and sellers to be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class I Type - I, which indicates its designation for residential use.

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

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

How is the stamp duty calculated for properties in Nehru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600.