Guideline Value for Nehru Colony 12th Cross Street

Nehru Colony 12th Cross Street guideline value

The current guideline value of Nehru Colony 12th 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 12th Cross Street has changed

Over the years, the guideline value of Nehru Colony 12th Cross Street has seen significant changes. In 2002, the guideline value was Rs 319 per sq.ft, which increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 700 per sq.ft in 2007, reflecting a 93% increase. Following this, there was a substantial jump to Rs 3,000 per sq.ft in 2012, which represented a 329% increase. However, the value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft in 2024, indicating a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 934%. The register has no figure for this street for the years not listed.

Guideline values in Nanganallur

Nanganallur has 155 streets under the Alandur SRO with a 2024 guideline value 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, positioning Nehru Colony 12th Cross Street below this median.

• Nehru Colony 11th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 10th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 12th 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony 12th Cross Street?

The Sub Registrar Office that covers Nehru Colony 12th 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 metric used during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property must be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nehru Colony 12th Cross Street?

The current guideline value of Nehru Colony 12th 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 significantly, starting at Rs 319 per sq.ft in 2002 and reaching Rs 3,300 per sq.ft in 2024, which is an overall increase of 934% over the years.

What is the classification of Nehru Colony 12th Cross Street?

Nehru Colony 12th Cross Street is classified as Residential Class I Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties here?

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Nehru Colony 12th Cross Street?

The Alandur Sub Registrar Office handles property registrations for Nehru Colony 12th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.