Guideline Value for NERU NAGER MADHA KOIL STREET

Neru Nager Madha Koil Street guideline value

The current guideline value of Neru Nager Madha Koil Street is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Neru Nager Madha Koil Street has changed

The guideline value for Neru Nager Madha Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2012. However, this value decreased to Rs 502 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 750 per sq.ft, reflecting no change between these two years. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%. The jump from 2007 to 2012 was notable at +1150%. Overall, from 2007 to 2024, the guideline value has increased by 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 value is Rs 750 per sq.ft, placing Neru Nager Madha Koil Street at this median value for 2024.

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

Stamp duty and registration fee for property in Neru Nager Madha Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Neru Nager Madha Koil Street?

The Sub Registrar Office that covers Neru Nager Madha Koil 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 benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, and the appropriate taxes are collected. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Neru Nager Madha Koil Street?

The current guideline value of Neru Nager Madha Koil 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 significantly 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 in 2023 and 2024.

What is the land classification for Neru Nager Madha Koil Street?

Neru Nager Madha Koil Street is classified as Residential Class IV Type - I.

Where can I find the Walajabad Sub Registrar Office?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would include a stamp duty of 7% and a registration fee of 2%.