Guideline Value for Nehru Colony 4th Street

Nehru Colony 4th Street guideline value

The current guideline value of Nehru Colony 4th 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 Street has changed

The guideline value for Nehru Colony 4th Street has undergone 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. The value saw a significant rise to Rs 800 per sq.ft in 2007, followed by a substantial increase to Rs 3,000 per sq.ft in 2012. However, it then dropped to Rs 2,010 per sq.ft in 2017. The value was revised to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,300 per sq.ft. The register has no figure for the years not mentioned in this list.

Between the revisions, notable changes include a 10% increase from 2023 to 2024 and a 49% increase from 2017 to 2023. The value decreased by 33% from 2012 to 2017, while it increased by 275% from 2007 to 2012. Additionally, the value rose by 120% from 2003 to 2007 and by 14% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 934%.

Guideline values in Nanganallur

Nanganallur village has 155 streets under the Alandur SRO carrying 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 for Nehru Colony 4th Street is below this median.

• Nehru Colony 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 5th Main road: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 6th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 4th 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, resulting in a total of 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 4th Street?

The Sub Registrar Office that covers Nehru Colony 4th 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 an essential factor when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price must be equal to or greater than the guideline value to ensure proper registration. This ensures that all transactions adhere to the legal requirements set by the Registration Department.

Frequently asked questions

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

The current guideline value of Nehru Colony 4th 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 multiple times, starting from Rs 319 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the stamp duty rate for properties in Nehru Colony 4th Street?

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

Where can I find the Sub Registrar Office for Nehru Colony 4th Street?

The Sub Registrar Office for Nehru Colony 4th 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 value for property registration and to calculate applicable stamp duty and registration fees during a transaction. It ensures that all property transactions comply with legal standards.