Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street in Jelandianpettai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Nehru Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This value decreased to Rs 1,005 per sq.ft in the 2017 revision. Following that, the value saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, and then it rose again to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the increase was 49%. Overall, from 2012 to 2024, the guideline value increased by 10%.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Nehru Street's 2024 figure below that median.

• Nesavalar Nagar- Mgr Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar V.O.C Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar -West Street: Rs 1,320 per sq.ft (2024)
• Nesavallar Nagar /Kamarajar Street: Rs 1,870 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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 Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher, to ensure accurate financial planning.

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 seen several changes, starting from Rs 1,500 per sq.ft in 2012, decreasing to Rs 1,005 per sq.ft in 2017, and then increasing to Rs 1,500 per sq.ft in 2023, followed by Rs 1,650 per sq.ft in 2024.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class IV Type - I under the Chennai South Joint I SRO.

What other streets have guideline values in Jelandianpettai?

Other streets in Jelandianpettai include Nesavalar Nagar- Mgr Street, Nesavalar Nagar V.O.C Street, and Nethaji Street, among others, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft.

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

The Sub Registrar Office covering Nehru Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.