Guideline Value for Nehru Colony 10th Street

Nehru Colony 10th Street guideline value

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

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

The guideline value for Nehru Colony 10th Street has seen several revisions over the years. In 2002, the guideline value was Rs 490 per sq.ft, which increased to Rs 557 per sq.ft in 2003, marking a change of +14%. The value continued to rise significantly, reaching Rs 1,200 per sq.ft in 2007, a jump of +115%. By 2012, the value was Rs 3,000 per sq.ft, reflecting an increase of +150% from the previous revision. However, this figure dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of -33%.

In the subsequent revisions, the guideline value rose to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, indicating an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +573%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Nehru Colony 10th Street's 2024 figure below that median.

• Nehru Colony 10th Cross 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nehru Colony 10th Street?

The Sub Registrar Office that covers Nehru Colony 10th 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 when registering property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the registration process adheres to the established legal framework.

Frequently asked questions

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

The current guideline value of Nehru Colony 10th 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 490 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +573% over this period.

What are the stamp duty and registration fees for property in Nehru Colony 10th Street?

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.

Which Sub Registrar Office covers Nehru Colony 10th Street?

The Alandur Sub Registrar Office covers Nehru Colony 10th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Nehru Colony 10th Street?

Nehru Colony 10th Street is classified as Residential Class I Type - III, which indicates its zoning for residential purposes.