Guideline Value for Nehru Colony 3rd Street

Nehru Colony 3rd Street guideline value

The current guideline value of Nehru Colony 3rd 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - III.

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

The guideline value for Nehru Colony 3rd 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 change of +14%. The value then rose significantly to Rs 700 per sq.ft in 2007, which was an increase of +93%. In 2012, the guideline value reached Rs 3,000 per sq.ft, reflecting a substantial jump of +329% from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of -33%. The value was then revised to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, representing a +10% increase.

Overall, from 2002 to 2024, the guideline value has risen by +934%. The register has no figure for this street in the years not mentioned above.

Guideline values in Nanganallur

Nanganallur has a total of 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 3rd Street is below this median.

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

Stamp duty and registration fee for property in Nehru Colony 3rd 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, and 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 3rd Street?

The Nehru Colony 3rd Street falls under 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 information.

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 stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value is used to ensure that the transaction is accurately recorded and that the appropriate taxes are collected. Buyers should be aware that the guideline value may differ from the actual sale price, and duty is charged on whichever amount is higher.

Frequently asked questions

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

The current guideline value of Nehru Colony 3rd 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, reflecting an overall increase of +934% over this period.

What is the land classification for Nehru Colony 3rd Street?

The land classification for Nehru Colony 3rd Street is Residential Class I Type - III.

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.

How is stamp duty calculated for properties in Nehru Colony 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,000.