Guideline Value for Nehru Colony 20th Street

Nehru Colony 20th Street guideline value

The current guideline value of Nehru Colony 20th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the jurisdiction of the Alandur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Nehru Colony 20th Street has changed

The guideline value for Nehru Colony 20th 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. The value then rose significantly to Rs 850 per sq.ft in 2007, followed by a substantial jump to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then increased to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024.

Between the revisions, the most notable changes include a 253% increase from 2007 to 2012, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 934%. There are no figures available for any other years for this street.

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, with a median value of Rs 3,900 per sq.ft. The guideline value of Nehru Colony 20th Street is below this median.

• Nehru Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 21st Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 19th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 22nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 18th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 20th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Colony 20th Street?

The Sub Registrar Office that covers Nehru Colony 20th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit this link.

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

The guideline value is a crucial factor when registering property transactions in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official register.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that both parties are aware of their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Colony 20th Street?

The current guideline value of Nehru Colony 20th 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, showing an overall increase of 934% over this period.

What are the stamp duty and registration fees for property in Nehru Colony 20th Street?

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.

Which Sub Registrar Office covers Nanganallur?

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

What is the land classification for Nehru Colony 20th Street?

Nehru Colony 20th Street is classified under Residential Class I Type - III land classification.