Guideline Value for NERU NAGER KARIKARA STREET

Neru Nager Karikara Street guideline value

The current guideline value of Neru Nager Karikara Street is Rs 750 per sq.ft. This street is located in Walajabad village, under the jurisdiction of the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Neru Nager Karikara Street has changed

In the 2007 revision, the guideline value was Rs 60 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 750 per sq.ft, marking an increase of 1150%. However, in the 2017 revision, the value dropped to Rs 502 per sq.ft, reflecting a decrease of 33%. The value then increased again to Rs 750 per sq.ft in both the 2023 and 2024 revisions, with no change between these two years.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1150%.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with guideline values 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 2024 figure for Neru Nager Karikara Street.

• Neru Nager Balavinagar Street: Rs 500 per sq.ft (2024)
• Neru Nager Kilalkarta Street: Rs 500 per sq.ft (2024)
• Neru Kavadikara Street: Rs 750 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 Nager Karikara Street

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, while the registration fee at 2% would be Rs 15,000. Together, the total cost for these fees would be Rs 67,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neru Nager Karikara Street?

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

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

The guideline value is a critical factor in the registration process for property transactions in Walajabad. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. If the sale price is lower than the guideline value, the duty is charged on the higher guideline value, ensuring that the government collects the appropriate fees based on the established rates.

Frequently asked questions

What is the current guideline value of Neru Nager Karikara Street?

The current guideline value of Neru Nager Karikara 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 seen several changes, starting from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, followed by a decrease to Rs 502 per sq.ft in 2017. It then returned to Rs 750 per sq.ft in both 2023 and 2024.

What is the registration fee for property in Neru Nager Karikara Street?

The registration fee for property in Neru Nager Karikara Street is 2% of the guideline value. For example, on a 1,000 sq.ft plot valued at Rs 7,50,000, the registration fee would be Rs 15,000.

Which office handles property registrations for Neru Nager Karikara Street?

The Walajabad Sub Registrar Office handles property registrations for Neru Nager Karikara Street. It is located on Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Walajabad?

Stamp duty in Walajabad is calculated at 7% of the higher value between the guideline value and the sale price. For instance, if the guideline value is Rs 7,50,000, the stamp duty would be Rs 52,500.