Guideline Value for NEHRUJI NAGAR

Nehruji Nagar guideline value

The current guideline value of Nehruji Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Manali village and falls under the jurisdiction of the Thiruvottiyur SRO. The land classification for this street is Mixed Special Type - III.

How the guideline value of Nehruji Nagar has changed

The guideline value for Nehruji Nagar has seen several revisions over the years. Starting from the earliest record in 2002, the value was Rs 86 per sq.ft. It increased to Rs 98 per sq.ft in 2003, marking a 14% rise. The value continued to climb significantly, reaching Rs 500 per sq.ft in 2007, which represented a substantial increase of 410%. By 2012, the value was Rs 1,400 per sq.ft, reflecting a 180% increase from the previous revision. However, it dropped to Rs 938 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 1,400 per sq.ft in 2023, followed by the current figure of Rs 1,500 per sq.ft in 2024, which is a 7% increase.

There are no figures available for the years not mentioned in the revisions for this street. The overall change from 2002 to 2024 shows a remarkable increase of 1,644% in the guideline value.

Guideline values in Manali

In Manali village, there are 84 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,001 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,200 per sq.ft, placing Nehruji Nagar's 2024 figure above this median.

• Neduncomhezhiyan Road: Rs 1,500 per sq.ft (2024)
• Mu. Varadharajan Street: Rs 1,200 per sq.ft (2024)
• Muthu Mariamman Nagar: Rs 1,200 per sq.ft (2024)
• N.S.K. Street: Rs 1,500 per sq.ft (2024)
• Paadasalai Street: Rs 1,500 per sq.ft (2024)
• Munuswamy Mudaliar Street / Munuswamy Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehruji Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehruji Nagar?

The Sub Registrar Office that covers Nehruji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Manali. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the authorities will assess the property based on the guideline value to ensure compliance with local regulations. This value helps maintain transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Nehruji Nagar?

The current guideline value of Nehruji Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 86 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, representing an overall increase of 1,644%.

What is the land classification of Nehruji Nagar?

The land classification for Nehruji Nagar is Mixed Special Type - III.

What is the registration office for Nehruji Nagar?

The registration office for Nehruji Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for property in Nehruji Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,05,000.