Guideline Value for Nehru Colony 22nd Street

Nehru Colony 22nd Street guideline value

The current guideline value of Nehru Colony 22nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, with a land classification of Residential Class I Type - III.

How the guideline value of Nehru Colony 22nd Street has changed

The guideline value for Nehru Colony 22nd Street has seen several revisions over the years. Starting from Rs 319 per sq.ft in 2002, it increased to Rs 363 per sq.ft in 2003, marking a 14% rise. By 2007, the value had jumped to Rs 700 per sq.ft, reflecting a significant increase of 93%. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a substantial increase of 329% from the previous figure.

In 2017, the guideline value was revised to Rs 2,010 per sq.ft, indicating a decrease of 33%. However, this was followed by an increase to Rs 3,000 per sq.ft in 2023, and finally, the current value stands at Rs 3,300 per sq.ft in 2024, showing a 10% increase from the previous year. The register has no figure for this street in the years not listed above.

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. The median value is Rs 3,900 per sq.ft, placing Nehru Colony 22nd Street's 2024 figure below that median.

• Nehru Colony 21st Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 20th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 22nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that 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 22nd Street?

The Sub Registrar Office that covers Nehru Colony 22nd 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 critical factor in property transactions in Nanganallur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the guideline value helps maintain transparency and consistency in property transactions. Buyers and sellers should be aware that the duty is charged on the higher of the guideline value or the sale price, which ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nehru Colony 22nd Street?

The current guideline value of Nehru Colony 22nd 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, with various revisions in between, including increases and decreases in value.

What is the stamp duty for property in Nehru Colony 22nd Street?

The stamp duty for property in Nehru Colony 22nd Street is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft property, this amounts to Rs 2,31,000.

Where can I find the Sub Registrar Office for Nehru Colony 22nd Street?

The Sub Registrar Office for Nehru Colony 22nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees during property transactions in Nanganallur.