Guideline Value for Nehru Colony 21st Street

Nehru Colony 21st Street guideline value

The current guideline value of Nehru Colony 21st Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Nehru Colony 21st Street has changed

The guideline value for Nehru Colony 21st Street has undergone several revisions over the years. The earliest recorded revision in 2002 set the value at Rs 440 per sq.ft. This increased to Rs 500 per sq.ft in 2003, marking a 14% rise. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, which was a 140% increase. Following this, the guideline value rose dramatically to Rs 4,500 per sq.ft in 2012, reflecting a 275% increase. However, the value decreased to Rs 3,015 per sq.ft in 2017, representing a 33% drop. The value then increased to Rs 4,500 per sq.ft in 2023, followed by the current rate of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

There are no figures available for the years between these revisions for Nehru Colony 21st Street. Overall, from 2002 to 2024, the guideline value has increased by 1,036%.

Guideline values in Nanganallur

Nanganallur village has a range of guideline values, with 155 streets under the Alandur SRO carrying a 2024 figure between Rs 2,800 and Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the guideline value of Nehru Colony 21st Street above this median.

• Nehru Colony 20th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 22nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 19th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 21st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to 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 information.

Which Sub Registrar Office covers Nehru Colony 21st Street?

The Sub Registrar Office that covers Nehru Colony 21st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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 at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This valuation is essential for calculating the stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Nehru Colony 21st Street?

The current guideline value of Nehru Colony 21st Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 440 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, which is an overall increase of 1,036%.

What is the classification of Nehru Colony 21st Street?

Nehru Colony 21st Street is classified as Commercial Class I Type - II.

What are the guideline values of other streets in Nanganallur?

Other streets in Nanganallur have guideline values ranging from Rs 3,300 per sq.ft, such as Nehru Colony 20th Street, 22nd Street, 1st Street, 2nd Street, 19th Street, and 3rd Cross Street.

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.