Guideline Value for Nehru High Road

Nehru High Road guideline value

The current guideline value of Nehru High Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nehru High Road has changed

The guideline value for Nehru High Road has seen significant changes over the years. Starting from Rs 566 per sq.ft in 2002, it increased to Rs 643 per sq.ft in 2003, marking a 14% rise. The value then rose to Rs 1,200 per sq.ft in 2007, which was an increase of 87%. In 2012, the value was recorded at Rs 4,000 per sq.ft, reflecting a substantial increase of 233% from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 677%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Nanganallur

Nanganallur village has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Nehru High Road's 2024 figure above this median.

• Nehru Colony Main Road: Rs 5,000 per sq.ft (2024)
• Nehru Colony 9th Street: Rs 3,300 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 High Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru High Road?

The Sub Registrar Office that covers Nehru High 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 further assistance.

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

The guideline value plays a crucial role when buying or selling property in Nanganallur. It serves as a benchmark for determining the minimum value at which property transactions should be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nehru High Road?

The current guideline value of Nehru High Road is Rs 4,400 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 4,400 per sq.ft in 2024, showing an overall increase of 677% over the years.

What is the land classification for Nehru High Road?

Nehru High Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Nehru High Road?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Nehru High Road?

The Alandur Sub Registrar Office handles property registrations for Nehru High Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.