Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street in Vengathur village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class II Type - I.

How the guideline value of Nehru Street has changed

Over the years, the guideline value for Nehru Street has seen several revisions. In 2007, the value was Rs 125 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, from 2012 to 2017, the value dropped to Rs 469 per sq.ft. The subsequent revision in 2023 brought the value back to Rs 700 per sq.ft, where it remained unchanged in the 2024 revision.

Specifically, from 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 460%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft as of 2024. The median guideline value in the village is Rs 1,000 per sq.ft, placing Nehru Street's 2024 figure below this median.

• NEHRU STREET 1st GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 2nd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• NEHRU STREET 3rd GURUKU STREET: Rs 1,300 per sq.ft (2024)
• Nehru Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• Nedhaji Street: Rs 700 per sq.ft (2024)
• Navaneetham Nagar: Rs 700 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 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, while the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Please 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 further calculations.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair price, which is essential for both the buyer and seller. It is important to be aware of the current guideline value to avoid any discrepancies 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 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Street has changed several times, with significant increases and decreases over the years, including a rise from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, followed by a drop to Rs 469 per sq.ft in 2017.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, which means that Nehru Street's current value is below this median.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles the registration for Nehru Street?

The registration for Nehru Street is handled by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.