Guideline Value for Nehru Nagar 4th Street

Nehru Nagar 4th Street guideline value

The current guideline value of Nehru Nagar 4th Street 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 4th Street has changed

The guideline value for Nehru Nagar 4th Street has undergone several revisions over the years. In 2012, the value was Rs 8,500 per sq.ft, which decreased to Rs 5,695 per sq.ft in 2017. Subsequently, the value increased significantly to Rs 8,500 per sq.ft in 2023, and then to Rs 9,400 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 11%. The largest increase was between 2017 and 2023, where the value rose by 49%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Pallipattu

Pallipattu village features a total of 72 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 9,400 per sq.ft, which is the same as the guideline value for Nehru Nagar 4th Street.

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

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, bringing the total fees together to 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 detailed calculations.

Which Sub Registrar Office covers Nehru Nagar 4th Street?

Nehru Nagar 4th Street falls under the jurisdiction of 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 is a critical factor in the registration process when buying or selling property in Pallipattu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees based on the higher of the guideline value or the actual sale price. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nehru Nagar 4th Street?

The current guideline value of Nehru Nagar 4th 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 from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the stamp duty on property in Nehru Nagar 4th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000.

Which office handles registrations for Nehru Nagar 4th Street?

The Adayar Sub Registrar Office handles registrations for Nehru Nagar 4th Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Nehru Nagar 4th Street?

Nehru Nagar 4th Street is classified as Residential Special Type - I, which indicates its designated use for residential purposes.