Guideline Value for Nehru Colony 9th Street

Nehru Colony 9th Street guideline value

The current guideline value of Nehru Colony 9th 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Nehru Colony 9th Street has changed

Over the years, the guideline value of Nehru Colony 9th Street has seen significant changes. In 2002, the guideline value was Rs 319 per sq.ft. This increased to Rs 363 per sq.ft in 2003, marking a 14% rise. The value then rose sharply to Rs 800 per sq.ft in 2007, reflecting a 120% increase. By 2012, the value was Rs 3,000 per sq.ft, which represented a substantial 275% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, indicating a decline of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, a 49% rise, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

It is important to note that the register has no figures for the years between 2002 and 2007, and also for 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 934%.

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, with the median value being Rs 3,900 per sq.ft. The guideline value for Nehru Colony 9th Street is below this median.

• Nehru Colony 9th Cross Street: Rs 3,300 per sq.ft (2024)
• Nehru Colony Main Road: Rs 5,000 per sq.ft (2024)
• Nehru Colony 8th Street: Rs 3,300 per sq.ft (2024)
• Nehru High Road: Rs 4,400 per sq.ft (2024)
• Nehru Colony 7th 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 9th 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, bringing the total to 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Colony 9th Street?

The Sub Registrar Office covering Nehru Colony 9th 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 reference point when buying or selling property in Nanganallur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

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

The current guideline value of Nehru Colony 9th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 319 per sq.ft to Rs 3,300 per sq.ft in 2024. The most notable changes occurred between 2007 and 2012, and again from 2017 to 2024.

What is the median guideline value in Nanganallur?

The median guideline value in Nanganallur is Rs 3,900 per sq.ft, while Nehru Colony 9th Street's current value is below this median.

What are the stamp duty and registration fees for properties in Nehru Colony 9th Street?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Nehru Colony 9th Street?

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