Guideline Value for Nehru Nagar ,2nd Cross Street

Nehru Nagar ,2nd Cross Street guideline value

The current guideline value of Nehru Nagar ,2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of Nehru Nagar ,2nd Cross Street has changed

The guideline value for Nehru Nagar ,2nd Cross Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The significant increase from Rs 1,206 in 2017 to Rs 1,800 in 2023 represents a 49% rise, followed by the latest adjustment to Rs 1,980.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value in Pammal is Rs 2,090 per sq.ft, indicating that the value for Nehru Nagar ,2nd Cross Street is below this median.

• Nehru Nagar ,1st Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• Nehru Salai/ Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar: Rs 1,980 per sq.ft (2024)
• Nehru Salai/Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar ,2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, calculated at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Nagar ,2nd Cross Street?

The Sub Registrar Office that covers Nehru Nagar ,2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, reflecting the area's real estate dynamics.

Frequently asked questions

What is the current guideline value for Nehru Nagar ,2nd Cross Street?

The current guideline value for Nehru Nagar ,2nd Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with Nehru Nagar ,2nd Cross Street's value being below this median.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur total fees of Rs 1,78,200 based on the current guideline value.

Which office handles property registrations for Nehru Nagar ,2nd Cross Street?

The Pammal Sub Registrar Office handles property registrations for Nehru Nagar ,2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.