Guideline Value for NERU NAGER SUBRAMANI NADAR STREET

Neru Nager Subramani Nadar Street guideline value

The current guideline value of Neru Nager Subramani Nadar 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 Subramani Nadar Street has changed

The guideline value for Neru Nager Subramani Nadar Street has undergone 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 2012. However, this value saw a decrease to Rs 502 per sq.ft in 2017. The subsequent revisions in 2023 and 2024 have maintained the value at Rs 750 per sq.ft, indicating no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1150%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

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, which aligns with the guideline value of Neru Nager Subramani Nadar Street.

• Neru Nager Savarimuthu Street: Rs 750 per sq.ft (2024)
• Neru Nager Madha Koil 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 Subramani Nadar 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, bringing the total fees to Rs 67,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neru Nager Subramani Nadar Street?

The Sub Registrar Office that covers Neru Nager Subramani Nadar 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 crucial factor when registering property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the legal and financial aspects of the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Neru Nager Subramani Nadar Street?

The current guideline value of Neru Nager Subramani Nadar 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, 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 this street?

Neru Nager Subramani Nadar Street is classified as Residential Class IV Type - I.

Where can I find the registration office for this street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.