Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street in Manapakkam 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 - III.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. In 2002, the value was Rs 97 per sq.ft, which increased to Rs 108 per sq.ft in 2003. The following revisions saw significant changes, with the value rising to Rs 400 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was an increase of 11%. The value surged by 270% from 2003 to 2007, followed by a 275% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, and increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 1,601%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Nehru Street's 2024 figure below that median.

• Narmatha Street: Rs 2,530 per sq.ft (2024)
• Narkudi Eswaran Koil Street: Rs 2,200 per sq.ft (2024)
• North Manicka Perumal Kovil Street: Rs 1,650 per sq.ft (2024)
• Murugathamman Koil Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Street: Rs 1,980 per sq.ft (2024)
• Murugathamman Koil 3rd Lane Street: Rs 1,980 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, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Manapakkam

The guideline value is a critical factor when registering property transactions in Manapakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees, ensuring compliance with local regulations. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

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 significantly from Rs 97 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and one decrease over the years.

What is the registration office for Nehru Street?

Nehru Street is registered under 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.

What are the stamp duty and registration fees for property in Nehru Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations.