Guideline Value for NERU NAGER SAVARIMUTHU STREET

Neru Nager Savarimuthu Street guideline value

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

Over the years, the guideline value for Neru Nager Savarimuthu Street has seen several revisions. The earliest recorded figure is from the 2007 revision, which was Rs 60 per sq.ft. This figure increased significantly to Rs 750 per sq.ft in the 2012 revision, marking a substantial increase of 1150%. However, from 2012 to 2017, the value dropped to Rs 502 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 750 per sq.ft in the 2023 revision, and it remained unchanged in the 2024 revision.

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%, and overall, from 2007 to 2024, it 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 current guideline value of Neru Nager Savarimuthu Street.

• Neru Nager Madha Koil Street: Rs 750 per sq.ft (2024)
• Neru Nager Subramani Nadar Street: Rs 750 per sq.ft (2024)
• Neru Nager Kusnikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Kilalkarta Street: Rs 500 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 Savarimuthu 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 is calculated at 7%, which equals Rs 52,500, and the registration fee at 2% amounts to Rs 15,000. Together, the total cost for stamp duty and registration fee is 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 details.

Which Sub Registrar Office covers Neru Nager Savarimuthu Street?

The Sub Registrar Office that covers Neru Nager Savarimuthu 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 plays a crucial role 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 during the transaction. Buyers should be aware that the guideline value is often used to assess the minimum value of the property for registration purposes.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand how the guideline value affects their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Neru Nager Savarimuthu 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 returned to Rs 750 per sq.ft in 2023 and 2024.

What is the land classification for Neru Nager Savarimuthu Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,50,000, the stamp duty is Rs 52,500 at 7%, and the registration fee is Rs 15,000 at 2%, totaling Rs 67,500.

Where is the Sub Registrar Office located for this street?

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