Guideline Value for Nehru Colony 13th Street

Nehru Colony 13th Street guideline value

The current guideline value of Nehru Colony 13th Street is Rs 4,400 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 - I.

How the guideline value of Nehru Colony 13th Street has changed

The guideline value for Nehru Colony 13th Street has undergone several revisions over the years. In 2002, the guideline 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. A notable increase occurred in 2012 when it reached Rs 4,000 per sq.ft, but this was followed by a decrease to Rs 2,680 per sq.ft in 2017. The guideline value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft as of the 2024 revision.

The changes between revisions highlight a 1279% overall increase from 2002 to 2024. Specifically, the value rose by 10% from 2023 to 2024, and by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a remarkable increase of 471%. The value also increased by 93% from 2003 to 2007 and by 14% from 2002 to 2003. There are no figures available for other revisions for this street.

Guideline values in Nanganallur

Nanganallur village has a total of 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 guideline value in this area is Rs 3,900 per sq.ft, placing Nehru Colony 13th Street's current value above this median.

• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 14th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 13th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 13th Street?

The Sub Registrar Office that covers Nehru Colony 13th 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 stamp duty and registration fees payable when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nehru Colony 13th Street?

The current guideline value of Nehru Colony 13th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 319 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1279% over the years.

What are the stamp duty and registration fees for property in Nehru Colony 13th Street?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Nehru Colony 13th Street located?

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

What is the land classification for Nehru Colony 13th Street?

Nehru Colony 13th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.