Guideline Value for Nehru Colony 16th Street

Nehru Colony 16th Street guideline value

The current guideline value of Nehru Colony 16th 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 16th Street has changed

The guideline value for Nehru Colony 16th Street has undergone several revisions over the years. Starting from the earliest available figure in 2002, the value was Rs 527 per sq.ft. This increased to Rs 599 per sq.ft in 2003, marking a 14% rise. The value then saw a significant increase of 100% to Rs 1,200 per sq.ft in 2007. In 2012, the value changed to Rs 3,000 per sq.ft, reflecting a 150% increase from the previous revision. However, this was followed by a decrease of 33% to Rs 2,010 per sq.ft in 2017. The value then increased by 49% to Rs 3,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that there are no figures available for the years not listed in the register for this street. The overall change from 2002 to 2024 shows an increase of 526% in the guideline value.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Nehru Colony 16th Street's 2024 figure below this median.

• Nehru Colony 15th Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 17th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 18th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 14th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 19th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 16th 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 fees to Rs 2,97,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony 16th Street?

The Sub Registrar Office covering Nehru Colony 16th 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 details.

How the guideline value is used when you buy or sell in Nanganallur

The guideline value plays a crucial role during the registration of property transactions in Nanganallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value is used to determine the minimum value on which stamp duty is calculated. This means that if the sale price of the property is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of Nehru Colony 16th Street?

The current guideline value of Nehru Colony 16th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 527 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of 526%.

What are the stamp duty rates for properties in Nehru Colony 16th Street?

The stamp duty for properties in Nehru Colony 16th Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Alandur Sub Registrar Office?

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

What is the median guideline value in Nanganallur?

The median guideline value for streets in Nanganallur is Rs 3,900 per sq.ft, which is higher than the current guideline value of Nehru Colony 16th Street.