Guideline Value for Nehru St (Ward-09)

Nehru St (Ward-09) guideline value

The current guideline value of Nehru St (Ward-09) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nehru St (Ward-09) has changed

The guideline value for Nehru St (Ward-09) has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The most recent revision in 2024 shows a significant increase to Rs 2,200 per sq.ft.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2024, there was a notable increase of 64%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Nehru St (Ward-09) has a guideline value above this median.

• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nellur High Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru St (Ward-09)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 precise calculations.

Which Sub Registrar Office covers Nehru St (Ward-09)?

The Sub Registrar Office that covers Nehru St (Ward-09) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. The guideline value serves as a benchmark to ensure that the transaction is registered at a value that reflects the current market conditions.

When registering a property, the buyer must pay the applicable fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru St (Ward-09)?

The current guideline value of Nehru St (Ward-09) 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, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for Nehru St (Ward-09)?

The land classification for Nehru St (Ward-09) is Residential Class I Type - I.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values. For instance, Nehru St (Ward No.22) and Nehru st (Ward No.29) both have a guideline value of Rs 1,300 per sq.ft in 2024.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.