Guideline Value for Nehru Colony 12th Street

Nehru Colony 12th Street guideline value

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

The guideline value for Nehru Colony 12th Street has seen several revisions over the years. In 2002, the guideline value was Rs 521 per sq.ft, which increased to Rs 592 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 1,200 per sq.ft in 2007, a significant increase of +103%. By 2012, the value was Rs 3,000 per sq.ft, showing a notable increase of +150% from the previous revision. However, it then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of -33%.

In 2023, the guideline value rose to Rs 3,000 per sq.ft, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, which is an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +533%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Nanganallur

In Nanganallur, there are 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 value for these streets is Rs 3,900 per sq.ft, making the guideline value of Nehru Colony 12th Street below that median.

• Nehru Colony 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 11th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Nehru Colony 11th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 14th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is calculated at 7%, totaling Rs 2,31,000, while the registration fee is 2%, amounting to Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 12th Street?

The Sub Registrar Office that covers Nehru Colony 12th 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 plays a crucial role in the registration process of property transactions in Nanganallur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When buyers and sellers engage in property transactions, they must refer to the guideline value to ensure compliance with legal requirements. The fees are calculated based on this value, ensuring that both parties are aware of the financial implications of the transaction.

Frequently asked questions

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

The current guideline value of Nehru Colony 12th 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 for Nehru Colony 12th Street has changed from Rs 521 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +533% over the years.

What are the stamp duty and registration fees for property in Nehru Colony 12th 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 office handles property registrations in Nanganallur?

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

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees for property transactions. It is essential for buyers and sellers to refer to this value to ensure compliance with legal requirements during the registration process.