Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Kaspapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and in the latest 2024 revision, it has further risen to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Notably, the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Nehru Street's 2024 figure below that median.

• Nesamani Chellammal Avenue: Rs 1,650 per sq.ft (2024)
• Padavatamman Koil Cross Street: Rs 440 per sq.ft (2024)
• Padavatamman Koil Street: Rs 440 per sq.ft (2024)
• Mumurthy Avenue Second Main Road: Rs 1,430 per sq.ft (2024)
• Mumurthy Avenue First Main Road: Rs 1,430 per sq.ft (2024)
• Mumurthy Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Kaspapuram

The guideline value is a critical factor in property transactions in Kaspapuram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Nehru Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class I Type - III according to the local guidelines.