Guideline Value for NERUJI 1ST STREET

Neruji 1st Street guideline value

The current guideline value of Neruji 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Neruji 1st Street has changed

The guideline value for Neruji 1st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase of 8% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,675 per sq.ft, marking a significant increase of 49% to the 2023 figure. The overall change from the 2017 revision to the 2024 revision is an increase of 61%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value for Neruji 1st Street.

• Neruji 2nd Street: Rs 2,700 per sq.ft (2024)
• Neruji 3rd Street: Rs 2,700 per sq.ft (2024)
• Neruji 4th Street: Rs 2,700 per sq.ft (2024)
• Nelvayal Salai: Rs 4,900 per sq.ft (2024)
• Nelvayal Road Lane: Rs 4,400 per sq.ft (2024)
• Nesavalar Colony: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Neruji 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neruji 1st Street?

The Sub Registrar Office that covers Neruji 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented accurately and in accordance with local regulations.

Frequently asked questions

What is the current guideline value of Neruji 1st Street?

The current guideline value of Neruji 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 61% over this period.

What is the registration office for Neruji 1st Street?

The registration office for Neruji 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Neruji 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.

What other streets have the same guideline value in Perambur?

Other streets in Perambur that share the same guideline value of Rs 2,700 per sq.ft include Neruji 2nd Street, Neruji 3rd Street, and Neruji 4th Street.