Guideline Value

Corporate

Guideline Value for Nehru Nagar 1st Street

₹3850/sq.ft.

The guideline value for Nehru Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Nehru Nagar 1st Street

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Nehru Nagar 1st Street guideline value

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

How the guideline value of Nehru Nagar 1st Street has changed

The guideline value for Nehru Nagar 1st Street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 3,500 per sq.ft. This was followed by a decrease in 2017 to Rs 2,345 per sq.ft, marking a -33% change. The most recent revision in 2024 has increased the value to Rs 3,850 per sq.ft, reflecting a significant increase of +64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%.

The register does not have figures for the years 2002, 2003, 2007, and 2023 for this street. Therefore, the only relevant revisions are from 2012, 2017, and 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which means that Nehru Nagar 1st Street's 2024 guideline value is below this median.

Stamp duty and registration fee for property in Nehru Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to 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.

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

Which Sub Registrar Office covers Nehru Nagar 1st Street?

The Sub Registrar Office that covers Nehru Nagar 1st 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 information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are conducted at a fair price as per government standards.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs associated with property transactions. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Nehru Nagar 1st Street?

The current guideline value of Nehru Nagar 1st 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 2012 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024. This reflects a +10% change overall from 2012 to 2024.

What is the land classification of Nehru Nagar 1st Street?

Nehru Nagar 1st Street is classified as Residential Class II Type - III.

Where can I find the registration office for Nehru Nagar 1st Street?

The Velacheri Sub Registrar Office covers Nehru Nagar 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Nehru Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current rate, the stamp duty would be Rs 2,69,500.