Guideline Value for Nehru Colony 18th Street

Nehru Colony 18th Street guideline value

The current guideline value of Nehru Colony 18th 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 18th Street has changed

Since 2002, the guideline value for Nehru Colony 18th Street has seen significant changes. The value started at Rs 319 per sq.ft in 2002, then increased to Rs 382 per sq.ft in 2003, marking a 20% rise. Following that, the value rose to Rs 700 per sq.ft in 2007, which was an 83% increase. The guideline value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a substantial 329% increase. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, which was a 33% decline. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 934%. There are no figures available for the revisions in years other than those specified.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Nehru Colony 18th Street is below this median.

• Nehru Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 16th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 17th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 19th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 20th 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 18th 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 be 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 important to note that stamp 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 18th Street?

The Sub Registrar Office that covers Nehru Colony 18th 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 is a crucial factor during the registration of property transactions in Nanganallur. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a standard value.

When buying or selling property, it is essential to be aware of the guideline value as it directly affects the costs involved in the transaction. Buyers and sellers should ensure that the sale price is in alignment with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Nehru Colony 18th Street?

The current guideline value of Nehru Colony 18th 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 the years.

What is the land classification for Nehru Colony 18th Street?

Nehru Colony 18th Street is classified as Residential Class I Type - III under the Alandur SRO.

What are the stamp duty and registration fees for property transactions?

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.

Where can I find the Sub Registrar Office for Nehru Colony 18th Street?

The Sub Registrar Office for Nehru Colony 18th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.