Guideline Value for Nehru Colony 14th Cross Street

Nehru Colony 14th Cross Street guideline value

The current guideline value of Nehru Colony 14th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the jurisdiction of the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Nehru Colony 14th Cross Street has changed

The guideline value for Nehru Colony 14th 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, marking a change of +14%. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, an increase of +93%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of +329%. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, which was a decline of -33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally to the current rate of Rs 3,300 per sq.ft in 2024, representing a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +934%. The register has no figures for the years not mentioned in this summary.

Guideline values in Nanganallur

Nanganallur 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 value for these streets is Rs 3,900 per sq.ft, placing Nehru Colony 14th Cross Street's 2024 figure below that median.

• Nehru Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Nehru Colony 14th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 12th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 14th 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 amount to 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 duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nehru Colony 14th Cross Street?

The Sub Registrar Office that covers Nehru Colony 14th 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 factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nehru Colony 14th Cross Street?

The current guideline value of Nehru Colony 14th Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +934% over this period.

What are the stamp duty and registration fees for property in Nehru Colony 14th Cross 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, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including the location and type of property. It is updated periodically to reflect changes in the real estate market.