Guideline Value for NERKUNDRAM SCHEME(TNHB)

Nerkundram Scheme(Tnhb) guideline value

The current guideline value of Nerkundram Scheme(Tnhb) is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village under the Virugambakkam SRO, and the land classification is Mixed Special Type - III.

How the guideline value of Nerkundram Scheme(Tnhb) has changed

The guideline value for Nerkundram Scheme(Tnhb) has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 3,015 per sq.ft. This increased significantly to Rs 5,985 per sq.ft in 2023, marking a 99% rise. The most recent revision in 2024 saw the value rise to Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 119%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the Nerkundram Scheme(Tnhb) guideline value above this median.

• Nerkundram Road Murthy Nagar: Rs 3,850 per sq.ft (2024)
• Nerkundram Road: Rs 3,350 per sq.ft (2024)
• NESAMMAL NAGAR 1st Street: Rs 2,200 per sq.ft (2024)
• NESAMMAL NAGAR 2nd Street: Rs 2,200 per sq.ft (2024)
• NESAMMAL NAGAR Annexe: Rs 2,750 per sq.ft (2024)
• NESAMMAL NAGAR - Madhavan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nerkundram Scheme(Tnhb)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost for stamp duty and registration fees to Rs 5,94,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nerkundram Scheme(Tnhb)?

The Nerkundram Scheme(Tnhb) is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value ensures that the transaction is recorded accurately and fairly within the legal framework.

When selling property, the guideline value helps in establishing a baseline for pricing. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nerkundram Scheme(Tnhb)?

The current guideline value of Nerkundram Scheme(Tnhb) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 3,015 per sq.ft to Rs 6,600 per sq.ft in 2024, marking a total increase of 119% over the years.

What are the stamp duty rates for property transactions in Nerkundram?

The stamp duty for property transactions in Nerkundram is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nerkundram?

The Sub Registrar Office covering Nerkundram is the Virugambakkam SRO, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Nerkundram?

The median guideline value for the 476 streets in Nerkundram under the Virugambakkam SRO is Rs 2,200 per sq.ft, with the Nerkundram Scheme(Tnhb) value being above this median.