Guideline Value for Nehru Nagar 3rd Main Road

Nehru Nagar 3rd Main Road guideline value

The current guideline value of Nehru Nagar 3rd 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, classified as Residential Special Type - I.

How the guideline value of Nehru Nagar 3rd Main Road has changed

The guideline value for Nehru Nagar 3rd Main Road has seen several revisions over the years. In 2012, the value was Rs 8,500 per sq.ft, which then decreased to Rs 5,695 per sq.ft in 2017. After this, the value increased significantly to Rs 8,500 per sq.ft in 2023, and further rose to the current value of Rs 9,400 per sq.ft in 2024, marking an 11% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 11%. The revisions for 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Pallipattu

In Pallipattu, there are 72 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 9,400 per sq.ft, which aligns with the guideline value of Nehru Nagar 3rd Main Road.

• Nehru Nagar 3rd Street: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 4th Main Road: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 4th Street: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 2nd Main Road: Rs 9,400 per sq.ft (2024)
• Nehru Nagar 2nd Cross Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 3rd 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 cost for these fees Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nehru Nagar 3rd Main Road?

The Sub Registrar Office that covers Nehru Nagar 3rd Main Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallipattu. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that these costs are based on an official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar 3rd Main Road?

The current guideline value of Nehru Nagar 3rd 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 2012 to Rs 5,695 per sq.ft in 2017, then to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification for Nehru Nagar 3rd Main Road?

Nehru Nagar 3rd Main Road is classified as Residential Special Type - I under the Adayar SRO.

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

For a property valued at Rs 94,00,000, the total stamp duty would be Rs 6,58,000, and the registration fee would be Rs 1,88,000, making the total fees Rs 8,46,000.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone.