Guideline Value for Nehru Colony 3rd Cross Street

Nehru Colony 3rd Cross Street guideline value

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

How the guideline value of Nehru Colony 3rd Cross Street has changed

The guideline value for Nehru Colony 3rd Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 319 per sq.ft. This value increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The following revisions were notable, with the value jumping to Rs 700 per sq.ft in 2007, which was a 93% increase. By 2012, the value had surged to Rs 3,000 per sq.ft, reflecting a substantial 329% increase from the previous revision. However, this value decreased to Rs 2,010 per sq.ft in 2017, indicating a decline of 33%.

From 2017 to 2023, the guideline value saw a significant increase of 49%, bringing it up to Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year. The overall change from 2002 to 2024 shows an increase of 934% in the guideline value for this street.

Guideline values in Nanganallur

Nanganallur village 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 this area is Rs 3,900 per sq.ft, placing Nehru Colony 3rd Cross Street's current value below this median.

• Nehru Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 22nd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 21st Street: Rs 5,000 per sq.ft (2024)
• Nehru Colony 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 3rd Cross 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. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony 3rd Cross Street?

The Sub Registrar Office that covers Nehru Colony 3rd Cross 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

When buying or selling property in Nanganallur, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are fair and consistent across the region.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the property transaction. This value is also used to assess the market value of the property for registration purposes, providing a standardized measure for property transactions.

Frequently asked questions

What is the current guideline value of Nehru Colony 3rd Cross Street?

The current guideline value of Nehru Colony 3rd Cross 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 this period.

What are the guideline values for other streets in Nanganallur?

Other streets in Nanganallur have varying guideline values, with rates ranging from Rs 2,800 to Rs 6,600 per sq.ft in 2024. The median value is Rs 3,900 per sq.ft.

What is the stamp duty for property in Nehru Colony 3rd Cross Street?

The stamp duty for property in Nehru Colony 3rd Cross Street is 7% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000.

Where can I find the Sub Registrar Office for Nehru Colony 3rd Cross Street?

The Sub Registrar Office covering Nehru Colony 3rd Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.