Guideline Value for NHERU NAGAR

Nheru Nagar guideline value

The current guideline value of Nheru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village and falls under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Nheru Nagar has changed

The guideline value for Nheru Nagar has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 2,000 per sq.ft. In 2017, this value decreased to Rs 1,340 per sq.ft, a drop of 33%. The value then rose significantly to Rs 2,000 per sq.ft in 2023, and subsequently increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year. There are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most notable change occurred between 2017 and 2023, where the value rose by 49%, reflecting a significant adjustment in the guideline value during that period.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Nheru Nagar's 2024 figure below that median.

• Nuthanjeri Joint Road: Rs 3,300 per sq.ft (2024)
• Nuthanjeri Link Road: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Muthumani Nagar: Rs 3,300 per sq.ft (2024)
• Paramahamsa Yoganandha Street: Rs 3,700 per sq.ft (2024)
• PARSN SYNERrGY: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Nheru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nheru Nagar?

The Sub Registrar Office that covers Nheru Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengaivasal. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration regulations and to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Nheru Nagar?

The current guideline value of Nheru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Nheru Nagar?

Nheru Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

How is stamp duty calculated for properties in Nheru Nagar?

Stamp duty for properties in Nheru Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.