Guideline Value for Nehru Colony 10th Cross Street

Nehru Colony 10th Cross Street guideline value

The current guideline value of Nehru Colony 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Nehru Colony 10th Cross Street has changed

The guideline value for Nehru Colony 10th Cross Street has seen several revisions over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 363 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 700 per sq.ft in 2007, reflecting a +93% increase. By 2012, the value was Rs 3,000 per sq.ft, indicating a substantial increase of +329% from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, which was a decline of -33%.

In the subsequent revisions, the value increased to Rs 3,000 per sq.ft in 2023, showing a +49% rise from 2017. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a +10% increase from 2023. The register has no figure for this street for the years not mentioned above.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, and the guideline value for Nehru Colony 10th Cross Street is below this median.

• Nehru Colony 10th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 11th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 10th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 10th Cross Street?

The Sub Registrar Office that covers Nehru Colony 10th Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the total expenses involved in the property transfer.

Frequently asked questions

What is the current guideline value of Nehru Colony 10th Cross Street?

The current guideline value of Nehru Colony 10th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +934% over the years.

What is the land classification for Nehru Colony 10th Cross Street?

Nehru Colony 10th Cross Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Nehru Colony 10th Cross Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.