Guideline Value for NEHRUJI JOTHI NAGAR

Nehruji Jothi Nagar guideline value

The current guideline value of Nehruji Jothi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Nehruji Jothi Nagar has changed

The guideline value for Nehruji Jothi Nagar has seen several revisions over the years. Starting from Rs 393 per sq.ft in 2002, it increased to Rs 431 per sq.ft in 2003, marking a 10% rise. The value further increased to Rs 550 per sq.ft in 2007, reflecting a 28% change. In 2012, the guideline value reached Rs 2,000 per sq.ft, which was a significant increase of 264% from the previous revision. However, in 2017, it decreased to Rs 1,340 per sq.ft, indicating a drop of 33%.

From 2017, the guideline value rose to Rs 2,000 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 460%. There are no figures available for other revisions for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO carrying a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Nehruji Jothi Nagar is below this median.

• Nehru Jyothi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Jyothi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehruji Jothi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehruji Jothi Nagar?

The Sub Registrar Office that covers Nehruji Jothi Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Perambur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer is required to pay stamp duty 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 Nehruji Jothi Nagar?

The current guideline value of Nehruji Jothi Nagar 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 experienced several changes, starting from Rs 393 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

What is the land classification for Nehruji Jothi Nagar?

Nehruji Jothi Nagar is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Nehruji Jothi Nagar?

The Sub Registrar Office for Nehruji Jothi Nagar is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Nehruji Jothi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.