Guideline Value for Nehru Colony 11th Cross Street

Nehru Colony 11th Cross Street guideline value

The current guideline value of Nehru Colony 11th 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, and is classified as Residential Class I Type - III.

How the guideline value of Nehru Colony 11th Cross Street has changed

The guideline value for Nehru Colony 11th 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. Following this, the value rose significantly to Rs 700 per sq.ft in 2007, and then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +14%. The value surged by +93% from 2003 to 2007, followed by a significant rise of +329% from 2007 to 2012. There was a decline of -33% from 2012 to 2017, but the value increased by +49% from 2017 to 2023. Finally, from 2023 to 2024, the value saw a rise of +10%. Overall, from 2002 to 2024, the guideline value has increased by +934%.

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, with a median value of Rs 3,900 per sq.ft. The guideline value of Nehru Colony 11th Cross Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony 11th Cross Street?

The Sub Registrar Office that covers Nehru Colony 11th 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

When buying or selling property in Nanganallur, the guideline value is a critical factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property transfer.

The guideline value helps ensure that the property is registered at a value that reflects its market worth, thereby facilitating a transparent transaction process. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Nehru Colony 11th Cross Street?

The current guideline value of Nehru Colony 11th 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 this period.

What is the land classification for Nehru Colony 11th Cross Street?

Nehru Colony 11th Cross Street is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property in this area?

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 located for this street?

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