Guideline Value for Nehru Nagar 2nd Street

Nehru Nagar 2nd Street guideline value

The current guideline value of Nehru Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

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

The guideline value for Nehru Nagar 2nd Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then increased significantly to Rs 2,000 per sq.ft in 2023, and finally to the current value of Rs 2,200 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Ambattur

A total of 448 streets in Ambattur fall under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, making the current value of Nehru Nagar 2nd Street below the median.

• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 4rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Nathela sampath chetty Street: Rs 4,000 per sq.ft (2024)
• Nethaji Street (Ramapuram): Rs 3,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Nagar 2nd Street?

The Nehru Nagar 2nd Street is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Ambattur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of this value, as it affects the stamp duty and registration fees that need to be paid during a transaction.

When purchasing or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Nehru Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Nehru Nagar 2nd Street?

The land classification for Nehru Nagar 2nd Street is Residential Class IV Type - I.

What are the stamp duty rates for properties in Nehru Nagar 2nd Street?

The stamp duty for properties in Nehru Nagar 2nd Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Nehru Nagar 2nd Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.