Guideline Value for NERUJI 2ND STREET

Neruji 2nd Street guideline value

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

How the guideline value of Neruji 2nd Street has changed

Over the years, the guideline value of Neruji 2nd Street has seen significant changes. In the 2017 revision, the guideline value was Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 61%.

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 guideline value is Rs 2,700 per sq.ft, which is equal to the 2024 figure for Neruji 2nd Street.

• Neruji 1st 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)
• Nesavalar Colony: Rs 4,300 per sq.ft (2024)
• Nelvayal Salai: Rs 4,900 per sq.ft (2024)
• Nesavalar Colony 10th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Neruji 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. 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 Neruji 2nd Street?

Neruji 2nd Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012. You can find your SRO for more information.

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 minimum value at which the property can be registered, ensuring that the transaction is conducted transparently 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 Neruji 2nd Street?

The current guideline value of Neruji 2nd 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, marking a total increase of 61% over this period.

What is the purpose of the guideline value?

The guideline value serves as a minimum benchmark for property registration, ensuring that properties are registered at a fair value. It also determines the stamp duty and registration fees payable during the transaction.

Where can I find the Sub Registrar Office for Neruji 2nd Street?

The Sub Registrar Office covering Neruji 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai-600 012.

How do I calculate the stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for assistance in calculating these fees.