Guideline Value for Nehru Street (Dr. Kanu Nagar 2nd Street)

Nehru Street (Dr. Kanu Nagar 2nd Street) guideline value

The current guideline value of Nehru Street (Dr. Kanu Nagar 2nd Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Residential Class V Type - I.

How the guideline value of Nehru Street (Dr. Kanu Nagar 2nd Street) has changed

The guideline value of Nehru Street has seen several revisions over the years. The earliest recorded value is from 2007, where it was Rs 620 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 223%. However, it then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. Following that, the value surged to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. The overall change from the 2007 revision to the current 2024 revision shows an increase of 255%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Neithal Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar New Layout: Rs 2,700 per sq.ft (2024)
• Nehru Nagar Main Road,Nesappakkam: Rs 2,700 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Nethaji Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street (Dr. Kanu Nagar 2nd Street)

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, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru Street (Dr. Kanu Nagar 2nd Street)?

Nehru Street (Dr. Kanu Nagar 2nd Street) is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street (Dr. Kanu Nagar 2nd Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 255% over the years.

What is the registration fee for property in Nehru Street?

The registration fee for property in Nehru Street is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Which Sub Registrar Office covers Nehru Street?

Nehru Street (Dr. Kanu Nagar 2nd Street) is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What factors influence the guideline value in Kodambakkam?

The guideline value in Kodambakkam is influenced by various factors including the location, land classification, and recent revisions by the Registration Department. Each street has its own unique value based on these criteria.