Guideline Value for NERU NAGAR

Neru Nagar guideline value

The current guideline value of Neru Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Pudupet village under the Pallipattu SRO, classified as Residential Class III Type - I.

How the guideline value of Neru Nagar has changed

The guideline value for Neru Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 134 per sq.ft. This figure increased to Rs 200 per sq.ft in the 2023 revision and remained unchanged in the 2024 revision, resulting in a 49% increase from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2023 to 2024, the guideline value remained stable at Rs 200 per sq.ft, indicating no percentage change during this period. The consistent value reflects a steady state in the guideline for this area.

Guideline values in Pudupet

Pudupet village has a total of 42 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 102 to Rs 600 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Neru Nagar is below this median.

• N.S. Nagar: Rs 400 per sq.ft (2024)
• Nagariroad Santhu: Rs 250 per sq.ft (2024)
• Nagariroad: Rs 250 per sq.ft (2024)
• Munireddykandigai: Rs 126 per sq.ft (2024)
• Meyanstreet: Rs 126 per sq.ft (2024)
• Policequaters Backside: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Neru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, resulting in a total of Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neru Nagar?

The Sub Registrar Office that covers Neru Nagar is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pudupet. It serves as a benchmark for determining the stamp duty and registration fees associated with property transactions.

When a property is registered, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Neru Nagar?

The current guideline value of Neru Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Neru Nagar has increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023 and 2024, marking a 49% increase over this period.

What are the guideline values for other streets in Pudupet?

The guideline values for other streets in Pudupet range from Rs 102 to Rs 600 per sq.ft, with a median value of Rs 350 per sq.ft. Neru Nagar's value is below this median.

What are the stamp duty and registration fees in Neru Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Where is the Sub Registrar Office for Neru Nagar located?

The Sub Registrar Office for Neru Nagar is located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207.