Guideline Value for NEHRU STREET

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Nehru Street has changed

Over the years, the guideline value for Nehru Street has seen significant changes. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This increased dramatically to Rs 2,000 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that the register has no figures for Nehru Street for the years 2002 and 2003.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Nehru Street's 2024 figure above this median.

• Nazir Kagani Garden: Rs 1,100 per sq.ft (2024)
• Natesan Street (Near Omr): Rs 2,200 per sq.ft (2024)
• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natesan Avenue: Rs 2,200 per sq.ft (2024)
• Narayanaswamy Street: Rs 1,700 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value may influence the final sale price, as it is often used to calculate the associated costs.

During the registration process, the guideline value ensures that the property is valued appropriately, and it helps in maintaining transparency in property transactions. This value is regularly revised to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,200 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 500 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and a decrease in between.

What are the stamp duty and registration fees for properties on Nehru Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Nehru Street?

The Neelankarai Sub Registrar Office handles property registrations for Nehru Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class II Type - II, which is important for understanding the guidelines and regulations applicable to properties in this area.