Guideline Value for Nehru Colony 5th Street

Nehru Colony 5th Street guideline value

The current guideline value of Nehru Colony 5th 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 5th Street has changed

The guideline value for Nehru Colony 5th Street has seen several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 512 per sq.ft. This increased to Rs 582 per sq.ft in 2003, marking a change of +14%. The value rose significantly to Rs 1,200 per sq.ft in 2007, an increase of +106%. Following this, the value further increased to Rs 3,000 per sq.ft in 2012, resulting in a +150% change. However, the value then decreased to Rs 2,010 per sq.ft in 2017, which was a decline of -33%. The guideline value then rose again to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, reflecting a +10% change.

There are no figures available for the revisions in years not listed. Overall, from 2002 to 2024, the guideline value has increased by +545%.

Guideline values in Nanganallur

Nanganallur village 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. The median value for these streets is Rs 3,900 per sq.ft, placing Nehru Colony 5th Street below this median.

• Nehru Colony 5th Main road: Rs 3,300 per sq.ft (2024)
• Nehru Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 7th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 4th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 8th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 5th 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, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fees would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Colony 5th Street?

The Sub Registrar Office covering Nehru Colony 5th 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

The guideline value is a crucial factor during the registration of property transactions in Nanganallur. It helps determine the stamp duty and registration fees that must be paid, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, the guideline value serves as a reference point for both parties involved in the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Colony 5th Street?

The current guideline value of Nehru Colony 5th 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 512 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +545% over this period.

What are the stamp duty and registration fees for property in Nehru Colony 5th Street?

For a 1,000 sq.ft plot, the total guideline value is 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 5th Street?

The Alandur Sub Registrar Office covers Nehru Colony 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Nehru Colony 5th Street?

Nehru Colony 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.