Guideline Value for NERU KAVADIKARA STREET

Neru Kavadikara Street guideline value

The current guideline value of Neru Kavadikara Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village and falls under the Walajabad SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Neru Kavadikara Street has changed

The guideline value for Neru Kavadikara Street has experienced several revisions over the years. In the 2007 revision, the value was set at Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision. However, it then dropped to Rs 502 per sq.ft in the 2017 revision, before stabilizing at Rs 750 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. The overall change from the 2007 revision to the 2024 revision is an increase of 1150%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 750 per sq.ft, which is equal to the current guideline value of Neru Kavadikara Street.

• Neru Nager Balavinagar Street: Rs 500 per sq.ft (2024)
• Neru Nager Karikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Kilalkarta Street: Rs 500 per sq.ft (2024)
• Neru Nager Kusnikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Madha Koil Street: Rs 750 per sq.ft (2024)
• Neru Nager Savarimuthu Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Neru Kavadikara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, making the total charges Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Neru Kavadikara Street?

The Sub Registrar Office that covers Neru Kavadikara Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Walajabad. It serves as a reference for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value will be considered to ensure that the correct fees are applied. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Neru Kavadikara Street?

The current guideline value of Neru Kavadikara Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and has remained at Rs 750 per sq.ft since 2023.

What is the median guideline value for streets in Walajabad?

The median guideline value for the 196 streets in Walajabad under the Walajabad SRO is Rs 750 per sq.ft, which is the same as the guideline value for Neru Kavadikara Street.

What fees are associated with buying property in Neru Kavadikara Street?

When buying property, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 67,500.

Where can I find the Sub Registrar Office for Neru Kavadikara Street?

The Sub Registrar Office for Neru Kavadikara Street is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.