Guideline Value for Nehru Colony 2nd Street

Nehru Colony 2nd Street guideline value

The current guideline value of Nehru Colony 2nd 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 2nd Street has changed

The guideline value for Nehru Colony 2nd 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, marking a 14% rise. The value then rose significantly to Rs 800 per sq.ft in 2007, reflecting a 120% increase. By 2012, the guideline value was Rs 3,000 per sq.ft, which was a substantial increase of 275% from the previous figure.

In 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by the current rate of 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 not mentioned in this report.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, placing Nehru Colony 2nd Street's current value below this median.

• Nehru Colony 22nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 21st Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 20th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 2nd 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged based 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 2nd Street?

The Sub Registrar Office that covers Nehru Colony 2nd 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 further assistance.

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 reference point for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value is compared with the sale price to determine the applicable duties. The higher value is used for calculating stamp duty and registration fees, ensuring that the transaction is appropriately recorded in the official registry.

Frequently asked questions

What is the current guideline value of Nehru Colony 2nd Street?

The current guideline value of Nehru Colony 2nd 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 seen several revisions, increasing from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 934% over the years.

What are the stamp duty and registration fees for property in Nehru Colony 2nd 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 Nehru Colony 2nd Street?

The Alandur Sub Registrar Office covers Nehru Colony 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, with Nehru Colony 2nd Street's current value being below this median.