Guideline Value for Nehru Colony Main Road

Nehru Colony Main Road guideline value

The current guideline value of Nehru Colony Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This road is located in Nanganallur village under the Alandur SRO, classified as Commercial Class I Type - II.

How the guideline value of Nehru Colony Main Road has changed

The guideline value for Nehru Colony Main Road has seen significant changes over the years. In 2002, the value was Rs 566 per sq.ft, which increased to Rs 643 per sq.ft in 2003, marking a change of +14%. The value then rose substantially to Rs 1,200 per sq.ft in 2007, reflecting an increase of +87%. Following this, the 2012 revision recorded a value of Rs 4,500 per sq.ft, showing a decrease of -33% from the previous revision. In 2017, the value was Rs 3,015 per sq.ft, which then increased to Rs 4,500 per sq.ft in 2023, representing a rise of +49%. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, an increase of +11% from 2023.

Overall, from 2002 to 2024, the guideline value has increased by +783%. There are no revisions with missing figures for this street.

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 of Rs 3,900 per sq.ft. Nehru Colony Main Road's 2024 figure of Rs 5,000 per sq.ft is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty, charged at 7%, would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total cost for these fees to Rs 4,50,000. 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 Main Road?

The Sub Registrar Office that covers Nehru Colony Main Road 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 in property transactions in Nanganallur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property values.

During the registration process, buyers and sellers must consider the guideline value to ensure compliance with legal requirements. This value serves as a reference point, helping to facilitate transparent transactions within the real estate market.

Frequently asked questions

What is the current guideline value of Nehru Colony Main Road?

The current guideline value of Nehru Colony Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 566 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +783% over this period.

What is the land classification for Nehru Colony Main Road?

Nehru Colony Main Road is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000 in fees.

Where can I find the Sub Registrar Office for Nehru Colony Main Road?

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