Guideline Value for Nehru Colony 6th Street

Nehru Colony 6th Street guideline value

The current guideline value of Nehru Colony 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Nehru Colony 6th Street has changed

The guideline value for Nehru Colony 6th 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. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and then it jumped to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024.

In terms of percentage changes, the increase from 2023 to 2024 is +10%. From 2017 to 2023, there was a notable increase of +49%. The period from 2012 to 2017 saw a decrease of -33%. The increase from 2007 to 2012 was +329%, and from 2003 to 2007, it was +93%. Lastly, the increase from 2002 to 2003 was +14%. Overall, from 2002 to 2024, the guideline value has increased by +934%. The register has no figure for this street in the years not mentioned.

Guideline values in Nanganallur

In Nanganallur, there are 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 is Rs 3,900 per sq.ft, placing Nehru Colony 6th Street's 2024 figure below that median.

• Nehru Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 7th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 5th Main road: Rs 3,300 per sq.ft (2024)
• Nehru Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 9th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 6th 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 would be Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nehru Colony 6th Street?

The Sub Registrar Office that covers Nehru Colony 6th 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 plays a crucial role in property transactions in Nanganallur. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is used to determine the applicable duties. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Nehru Colony 6th Street?

The current guideline value of Nehru Colony 6th 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 6th Street?

Nehru Colony 6th Street is classified as Residential Class I Type - III under the guideline value register.

Where can I find more information about stamp duty and registration fees?

More information about stamp duty and registration fees can be found using the stamp duty and registration fee calculator.

Which office handles the registration for Nehru Colony 6th Street?

The Alandur Sub Registrar Office handles the registration for Nehru Colony 6th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.