Guideline Value for Nehru Colony 14th Street

Nehru Colony 14th Street guideline value

The current guideline value of Nehru Colony 14th 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 falls under the Residential Class I Type - III land classification.

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

The guideline value for Nehru Colony 14th 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 guideline value was Rs 3,000 per sq.ft, reflecting a substantial increase of +329% from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of -33%. The value rose again to Rs 3,000 per sq.ft in 2023, and then to the current value 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 the revisions.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft as of 2024. The median guideline value in this village is Rs 3,900 per sq.ft, making the 2024 figure for Nehru Colony 14th Street below that median.

• Nehru Colony 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Nehru Colony 15th Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 13th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 16th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 14th 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, making the total cost for these fees 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru Colony 14th Street?

The Sub Registrar Office that covers Nehru Colony 14th 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 critical factor in the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value helps in calculating the stamp duty, which is charged based on either the guideline value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of Nehru Colony 14th 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 increased from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +934% over the years.

What are the other streets in Nanganallur with similar guideline values?

Other streets in Nanganallur have guideline values ranging from Rs 3,300 to Rs 5,000 per sq.ft in 2024, with Nehru Colony 14th Cross Street and Nehru Colony 15th Cross Street both at Rs 3,300 per sq.ft.

What fees are associated with property transactions in Nehru Colony 14th Street?

When buying property in Nehru Colony 14th Street, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nehru Colony 14th Street?

The Sub Registrar Office for Nehru Colony 14th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.