Guideline Value for Nehru Colony 9th Cross Street

Nehru Colony 9th Cross Street guideline value

The current guideline value of Nehru Colony 9th 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 9th Cross Street has changed

The guideline value for Nehru Colony 9th Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 319 per sq.ft. It increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 700 per sq.ft in 2007, which was a 93% increase. Following that, in 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial increase of 329% from the previous revision.

From 2012 to 2017, however, the guideline value decreased to Rs 2,010 per sq.ft, showing a decline of 33%. The value then increased again to Rs 3,000 per sq.ft in 2023, and most recently, it reached Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 934%.

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, with a median value of Rs 3,900 per sq.ft. Nehru Colony 9th Cross Street's 2024 guideline value is below this median.

• Nehru Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 9th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony 7th Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony Main Road: Rs 5,000 per sq.ft (2024)
• Nehru Colony 6th Street: Rs 3,300 per sq.ft (2024)
• Nehru High Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony 9th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be 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, resulting in a total of Rs 2,97,000. It is important to note that 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 9th Cross Street?

The Sub Registrar Office that covers Nehru Colony 9th 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 further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Colony 9th Cross Street?

The current guideline value of Nehru Colony 9th 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 undergone several changes, 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 are the stamp duty and registration fees for property in Nehru Colony 9th Cross 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 office handles property registrations for Nehru Colony 9th Cross Street?

The Alandur Sub Registrar Office handles property registrations for Nehru Colony 9th Cross Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Nehru Colony 9th Cross Street?

Nehru Colony 9th Cross Street is classified as Residential Class I Type - III, indicating its designation for residential purposes.