Guideline Value for Nehru Cross Street

Nehru Cross Street guideline value

The current guideline value of Nehru Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO, classified as Residential Special Type - II.

How the guideline value of Nehru Cross Street has changed

The guideline value for Nehru Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,010 per sq.ft. The value remained at Rs 3,000 per sq.ft until the 2023 revision, which increased it to Rs 3,000 per sq.ft.

In the latest 2024 revision, the guideline value rose by 10% to Rs 3,300 per sq.ft. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for Nehru Cross Street. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, making Nehru Cross Street's 2024 figure of Rs 3,300 per sq.ft above the median.

• Nehru Street: Rs 3,300 per sq.ft (2024)
• Natesan Street: Rs 1,175 per sq.ft (2024)
• Natarajan Nagar: Rs 2,725 per sq.ft (2024)
• Nesamani Nagar: Rs 2,750 per sq.ft (2024)
• Nethaji Nagar 1st - 17th Street: Rs 1,600 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Cross Street?

Nehru Cross Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration at the Selaiyur SRO.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions adhere to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Nehru Cross Street?

The current guideline value of Nehru 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the median guideline value in Perumbakkam?

The median guideline value for streets in Perumbakkam is Rs 2,725 per sq.ft. Nehru Cross Street's 2024 value is above this median.

What are the registration fees for properties in Nehru Cross 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.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.