Guideline Value for Nehru Colony 17th Street

Nehru Colony 17th Street guideline value

The current guideline value of Nehru Colony 17th 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 17th Street has changed

The guideline value for Nehru Colony 17th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 319 per sq.ft. This increased to Rs 363 per sq.ft in 2003, marking a 14% rise. Following that, the value surged significantly to Rs 1,300 per sq.ft in 2007, which was a 258% increase. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 131%. The value then changed to Rs 2,010 per sq.ft in 2017, reflecting a 49% increase from the previous revision. In 2023, the guideline value was Rs 3,000 per sq.ft, and it rose by 10% to reach the current value of Rs 3,300 per sq.ft in 2024.

There are no figures available for the years between the revisions mentioned above. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Nanganallur

Nanganallur village has 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 for these streets is Rs 3,900 per sq.ft, placing Nehru Colony 17th Street's current value below that median.

• Nehru Colony 16th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 18th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 19th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 15th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 17th 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, totaling Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 17th Street?

The Sub Registrar Office that covers Nehru Colony 17th 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 figure used during the registration process when buying or selling property in Nanganallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the guideline value as it directly impacts the overall costs involved in the registration process. Ensuring compliance with the guideline value helps in avoiding potential legal issues during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Nehru Colony 17th Street?

The current guideline value of Nehru Colony 17th 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 from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 934%.

What is the land classification of Nehru Colony 17th Street?

Nehru Colony 17th Street is classified as Residential Class I Type - III.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Nehru Colony 17th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nanganallur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.