Guideline Value for Nehru Colony 4th Cross Street

Nehru Colony 4th Cross Street guideline value

The current guideline value for Nehru Colony 4th Cross 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 4th Cross Street has changed

The guideline value for Nehru Colony 4th Cross Street has undergone several revisions over the years. In 2002, the value was Rs 319 per sq.ft, which rose to Rs 363 per sq.ft in 2003, marking an increase of 14%. The value then saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 93% increase. Following this, in 2012, the value decreased to Rs 3,000 per sq.ft, a decline of 329% from the previous revision. The value increased again to Rs 2,010 per sq.ft in 2017, which was a 49% rise. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, followed by the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Nanganallur

Nanganallur village has a range of guideline values across its 155 streets under the Alandur SRO, with figures 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, making the current guideline value for Nehru Colony 4th Cross Street below that median.

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

Stamp duty and registration fee for property in Nehru Colony 4th 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, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony 4th Cross Street?

The Sub Registrar Office that covers Nehru Colony 4th 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 information.

How the guideline value is used when you buy or sell in Nanganallur

The guideline value is a crucial factor when registering a property in Nanganallur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is documented at a fair value set by the government. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

When a property is sold, the registration office will use the guideline value to determine the applicable fees. It is essential for both parties in a transaction to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Colony 4th Cross Street?

The current guideline value of Nehru Colony 4th 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, marking an overall increase of 934% over the years.

What is the stamp duty for property in Nehru Colony 4th Cross Street?

The stamp duty for property in Nehru Colony 4th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What should I know about the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees when buying property. It is important to be aware of this value to ensure accurate documentation during the registration process.