Guideline Value for Nehru Colony 15th Cross Street

Nehru Colony 15th Cross Street guideline value

The current guideline value of Nehru Colony 15th 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 15th Cross Street has changed

The guideline value for Nehru Colony 15th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft. This increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The value continued to rise significantly, reaching Rs 700 per sq.ft in 2007, a 93% increase from the previous year. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, which was a remarkable 329% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and in the latest revision for 2024, it has increased to Rs 3,300 per sq.ft, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Nanganallur

Nanganallur village has a range of guideline values across its 155 streets under the Alandur SRO, with figures for 2024 ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for the village is Rs 3,900 per sq.ft, placing Nehru Colony 15th Cross Street's current value below this median.

• Nehru Colony 14th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 14th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 16th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 13th Street: Rs 4,400 per sq.ft (2024)
• Nehru Colony 17th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 15th Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is 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. Together, the total cost for these fees would be Rs 2,97,000. Please note that the 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 more details.

Which Sub Registrar Office covers Nehru Colony 15th Cross Street?

The Sub Registrar Office that covers Nehru Colony 15th 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 critical factor in the registration process when buying or selling property in Nanganallur. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer and seller must consider the guideline value for calculating applicable fees, such as stamp duty and registration charges. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Colony 15th Cross Street?

The current guideline value of Nehru Colony 15th 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 from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 934% over this period.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, which is higher than the current value of Nehru Colony 15th Cross Street.

What are the stamp duty and registration fees for properties in Nehru Colony 15th Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Nehru Colony 15th Cross Street?

The Alandur Sub Registrar Office handles registrations for Nehru Colony 15th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.