Guideline Value for Nehru Nagar 2nd Main Road

Nehru Nagar 2nd Main Road guideline value

The current guideline value of Nehru Nagar 2nd Main Road is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Pallipattu village under the Adayar SRO, and it is classified as Residential Special Type - I.

How the guideline value of Nehru Nagar 2nd Main Road has changed

Over the years, the guideline value of Nehru Nagar 2nd Main Road has seen several revisions. The most recent revision in 2024 set the value at Rs 9,400 per sq.ft, an increase from Rs 8,500 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the value was Rs 5,695 per sq.ft, which means there was a significant increase of 49% when comparing 2017 to 2023. The 2012 revision had the value at Rs 8,500 per sq.ft, indicating a decrease of 33% to the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. When considering the overall change from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value among these streets is Rs 9,400 per sq.ft, which is the same as the current value for Nehru Nagar 2nd Main Road.

• Nehru Nagar 2nd Street: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 3rd Main Road: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, making the total fees together Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nehru Nagar 2nd Main Road?

The Sub Registrar Office that covers Nehru Nagar 2nd Main Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

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

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of the transaction. It is essential to refer to the latest guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Nehru Nagar 2nd Main Road?

The current guideline value of Nehru Nagar 2nd Main Road is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2023 to Rs 9,400 per sq.ft in 2024. It was Rs 5,695 per sq.ft in 2017 and Rs 8,500 per sq.ft in 2012.

What is the land classification for Nehru Nagar 2nd Main Road?

Nehru Nagar 2nd Main Road is classified as Residential Special Type - I.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For a 1,000 sq.ft plot, the total fees can amount to Rs 8,46,000.

Where can I find the Sub Registrar Office for Nehru Nagar 2nd Main Road?

The Adayar Sub Registrar Office covers Nehru Nagar 2nd Main Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.