Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street in Vengaivasal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is a 10% increase. The largest increase occurred between 2017 and 2023, where the value rose by 49%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Nheru Nagar: Rs 2,200 per sq.ft (2024)
• Nuthanjeri Joint Road: Rs 3,300 per sq.ft (2024)
• Nuthanjeri Link Road: Rs 3,300 per sq.ft (2024)
• Muthumani Nagar: Rs 3,300 per sq.ft (2024)
• Mohi's Naple's: Rs 3,000 per sq.ft (2024)
• Mohi Florence Phase-III: Rs 2,900 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a crucial factor in the registration process when buying or selling property in Vengaivasal. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with a notable increase of 49% from 2017 to 2023.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What are the stamp duty rates for properties in Nehru Street?

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

How does the guideline value affect property transactions?

The guideline value determines the minimum registration value for property transactions, influencing the stamp duty and registration fees that buyers must pay when purchasing property in Vengaivasal.