Guideline Value for Nehru Nagar 3rd Street

Nehru Nagar 3rd Street guideline value

The current guideline value of Nehru Nagar 3rd Street 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 3rd Street has changed

The guideline value for Nehru Nagar 3rd Street has seen several revisions over the years. The earliest figure available is from 2002, where the guideline value was Rs 1,255 per sq.ft. This increased to Rs 1,372 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 4,000 per sq.ft in 2007, reflecting an increase of +192%. Following this, the value was revised to Rs 8,500 per sq.ft in 2012, which was a +113% increase from the previous figure. However, it then decreased to Rs 5,695 per sq.ft in 2017, showing a decline of -33%. The guideline value was again revised to Rs 8,500 per sq.ft in 2023, followed by the latest revision to Rs 9,400 per sq.ft in 2024, representing an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +649%. There are no figures available for other years for this street in the register.

Guideline values in Pallipattu

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

• Nehru Nagar 3rd Main Road: 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 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 9,400 per sq.ft, the 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, bringing the total to Rs 8,46,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar 3rd Street?

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

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

The guideline value plays a crucial role in the registration process of 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 from the transaction.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current guideline value in the area.

Frequently asked questions

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

The current guideline value of Nehru Nagar 3rd Street 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 significantly from Rs 1,255 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, with various increases and one decrease along the way.

What is the land classification for Nehru Nagar 3rd Street?

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

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

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

Which office handles property registrations for Nehru Nagar 3rd Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles property registrations for Nehru Nagar 3rd Street.