Guideline Value for Nehru Nagar (Ward-30)

Nehru Nagar (Ward-30) guideline value

The current guideline value of Nehru Nagar (Ward-30) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar (Ward-30) has changed

The guideline value for Nehru Nagar was last revised in 2024 to Rs 2,200 per sq.ft, which is an increase of 10% from the 2012 revision figure of Rs 2,000 per sq.ft. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002 for this street.

Prior to the 2024 revision, the last recorded figure was Rs 2,000 per sq.ft in 2012. The increase from 2012 to 2024 reflects the current valuation trends in the area, although no figures are available for the intervening years.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, placing Nehru Nagar's 2024 figure above this median.

• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward-09): Rs 2,200 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar (Ward-30)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Nehru Nagar (Ward-30)?

The Sub Registrar Office covering Nehru Nagar (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical component in the property registration process in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar (Ward-30)?

The current guideline value of Nehru Nagar (Ward-30) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Nagar was Rs 2,000 per sq.ft in 2012 and was revised to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There are no figures available for the intervening years of 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Nehru Nagar?

Nehru Nagar is classified as Residential Class I Type - I, which indicates its designation for residential purposes within the area.

What are the stamp duty and registration fees in Nehru Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Nehru Nagar located?

The Madhavaram Sub Registrar Office, which covers Nehru Nagar, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.