Guideline Value for Nehru Cross Street

Nehru Cross Street guideline value

The current guideline value of Nehru Cross Street is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village under the Sriperumpudur SRO, classified as Residential Class IV Type - I.

How the guideline value of Nehru Cross Street has changed

According to the guideline value register, there has been no figure for Nehru Cross Street in the revisions for the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 134 per sq.ft, which was then reduced to Rs 100 per sq.ft in both the 2023 and 2024 revisions, reflecting a decrease of 25% from 2017 to 2023 and an overall decline of 25% from 2017 to 2024.

The 2023 revision maintained the guideline value at Rs 100 per sq.ft, showing no percentage change from the previous year. Thus, from the 2017 revision to the current 2024 figure, the guideline value has seen a significant drop of 25%.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft, with a median value of Rs 400 per sq.ft. Nehru Cross Street's 2024 figure is below this median.

• Nayappakkam Salai: Rs 500 per sq.ft (2024)
• Nehru Street: Rs 300 per sq.ft (2024)
• Nadu Street: Rs 100 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 500 per sq.ft (2024)
• Moorthiyar Nagar: Rs 100 per sq.ft (2024)
• Pallikuda Street: Rs 400 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, while the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Cross Street?

The Sub Registrar Office that covers Nehru Cross Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When registering a property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded at a value that reflects the current market conditions as per the government’s assessment.

Frequently asked questions

What is the current guideline value of Nehru Cross Street?

The current guideline value of Nehru Cross Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 100 per sq.ft since the 2023 revision, down from Rs 134 per sq.ft in 2017, marking a 25% decrease over that period.

What is the land classification for Nehru Cross Street?

Nehru Cross Street is classified as Residential Class IV Type - I under the guideline value register.

What are the stamp duty rates for property in Nehru Cross Street?

The stamp duty for property transactions in Nehru Cross Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Nehru Cross Street?

The Sriperumpudur Sub Registrar Office handles registrations for Nehru Cross Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.