Guideline Value for Nehru Colony

Nehru Colony guideline value

The current guideline value of Nehru Colony in Mudichur village, under the Padappai SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Nehru Colony has changed

The guideline value for Nehru Colony has undergone several revisions since 2012. The 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and then to Rs 1,210 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,000 per sq.ft as of 2024. The median guideline value in the village is Rs 2,200 per sq.ft, indicating that Nehru Colony's 2024 figure is below this median.

• Navab Abibulla Nagar: Rs 3,630 per sq.ft (2024)
• Nehru Street: Rs 1,210 per sq.ft (2024)
• Neminathan Nagar: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nethaji Street: Rs 1,210 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, totaling Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Colony?

The Sub Registrar Office that covers Nehru Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller adhere to the legal requirements set by the Registration Department. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Nehru Colony?

The current guideline value of Nehru Colony is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012, decreased to Rs 737 per sq.ft in 2017, increased to Rs 1,100 per sq.ft in 2023, and is now Rs 1,210 per sq.ft in 2024.

What is the land classification of Nehru Colony?

Nehru Colony is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Padappai Sub Registrar Office covers Nehru Colony and is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Nehru Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 12,10,000, the stamp duty at 7% would be Rs 84,700.