Guideline Value for Nehru Nagar ,3rd Street

Nehru Nagar ,3rd Street guideline value

The current guideline value for Nehru Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Nehru Nagar ,3rd Street has changed

In the 2017 revision, the guideline value was set at Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision saw the guideline value further increase to Rs 1,980 per sq.ft, which is a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The consistent upward trend in the guideline value reflects changes in the area over the years.

Guideline values in Pammal

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

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

Stamp duty and registration fee for property in Nehru Nagar ,3rd Street

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

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar ,3rd Street?

The Sub Registrar Office that covers Nehru Nagar ,3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value assigned to the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar ,3rd Street?

The current guideline value for Nehru Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How 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, reflecting a total increase of 64% over these years.

What is the registration office for Nehru Nagar ,3rd Street?

The registration office for Nehru Nagar ,3rd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated in Nehru Nagar ,3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 19,80,000, the stamp duty would be calculated at 7% of that amount.

What are other streets in Pammal with similar guideline values?

Other streets in Pammal with a guideline value of Rs 1,980 per sq.ft include Nehru Nagar, 2nd Street, Nehru Nagar, 2nd Cross Street, and Nehru Nagar, 1st Street. These streets share the same guideline value for 2024.