Guideline Value for Nehru Nagar - Bharathiyar Street

Nehru Nagar - Bharathiyar Street guideline value

The current guideline value for Nehru Nagar - Bharathiyar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Nehru Nagar - Bharathiyar Street has changed

The guideline value for Nehru Nagar - Bharathiyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 2,345 per sq.ft. The value remained the same in 2012 and 2023 at Rs 3,500 per sq.ft, before increasing to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value for this street. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing the 2024 value for Nehru Nagar - Bharathiyar Street below this median.

• Nehru Nagar Bharathidasan Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar C.D.Yes Kudieruppu: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Avvaiyar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Elango Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Anna Street Lane: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Anna Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar - Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would amount to Rs 77,000, making the total fees together Rs 3,46,500. It is important 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 - Bharathiyar Street?

The Sub Registrar Office covering Nehru Nagar - Bharathiyar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to consider this value to ensure they are paying a fair amount in accordance with government regulations.

Frequently asked questions

What is the current guideline value for Nehru Nagar - Bharathiyar Street?

The current guideline value for Nehru Nagar - Bharathiyar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. It was Rs 2,345 per sq.ft in 2017, which increased to Rs 3,500 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 38,50,000, the total fees would be Rs 3,46,500.

Which office handles registrations for Nehru Nagar - Bharathiyar Street?

The Velacheri Sub Registrar Office handles registrations for Nehru Nagar - Bharathiyar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Nehru Nagar - Bharathiyar Street?

Nehru Nagar - Bharathiyar Street is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.