Guideline Value for NERU NAGER KUSNIKARA STREET

Neru Nager Kusnikara Street guideline value

The current guideline value of Neru Nager Kusnikara 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 Nager Kusnikara Street has changed

The guideline value for Neru Nager Kusnikara Street has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 750 per sq.ft in the 2012 revision. However, in 2017, the value dropped to Rs 502 per sq.ft, before rising again to Rs 750 per sq.ft in both the 2023 and 2024 revisions. There are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision shows no change, maintaining the value at Rs 750 per sq.ft. Overall, from the 2007 revision to the 2024 revision, 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 for these streets is Rs 750 per sq.ft, which is equal to the 2024 guideline value of Neru Nager Kusnikara Street.

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

Stamp duty and registration fee for property in Neru Nager Kusnikara 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, bringing the total costs together to Rs 67,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neru Nager Kusnikara Street?

The Sub Registrar Office that covers Neru Nager Kusnikara 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 an essential factor in the registration process when buying or selling property in Walajabad. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Neru Nager Kusnikara 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 several times: it was Rs 60 per sq.ft in 2007, rose to Rs 750 in 2012, dropped to Rs 502 in 2017, and returned to Rs 750 in both 2023 and 2024.

What is the land classification for this street?

The land classification for Neru Nager Kusnikara Street is Residential Class IV Type - I.

What is the registration office for this area?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are 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 rate, the total costs would be Rs 67,500.