Guideline Value for Nehru Colony 7th Street

Nehru Colony 7th Street guideline value

The current guideline value of Nehru Colony 7th 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 7th Street has changed

The guideline value for Nehru Colony 7th Street has seen several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft, which increased to Rs 363 per sq.ft in 2003, marking a change of +14%. By 2007, the value rose significantly to Rs 700 per sq.ft, reflecting an increase of +93%. The value then experienced a substantial jump to Rs 3,000 per sq.ft in 2012, a change of +329%. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of -33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by another rise to the current value of Rs 3,300 per sq.ft in 2024, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +934%. The register has no figure for the years between these revisions.

Guideline values in Nanganallur

Nanganallur has 155 streets under the Alandur SRO, with 2024 guideline values 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, and Nehru Colony 7th Street's 2024 figure is below that median.

• Nehru Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 5th Main road: Rs 3,300 per sq.ft (2024)
• Nehru Colony 9th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value is 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 7th Street?

The Sub Registrar Office that covers Nehru Colony 7th 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 determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Colony 7th Street?

The current guideline value of Nehru Colony 7th 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 the years.

What is the land classification of Nehru Colony 7th Street?

Nehru Colony 7th Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Nehru Colony 7th Street?

The Sub Registrar Office for Nehru Colony 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Nehru Colony 7th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.