Guideline Value for Nehru Nagar 5th Street, K Block West

Nehru Nagar 5th Street, K Block West guideline value

The current guideline value of Nehru Nagar 5th Street, K Block West is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Nehru Nagar 5th Street, K Block West has changed

The guideline value for Nehru Nagar 5th Street has seen several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, there was a significant drop to Rs 7,035 per sq.ft in 2017. The value then rose sharply to Rs 10,500 per sq.ft in 2023, and currently stands at Rs 11,500 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 15%. The fluctuations in these revisions reflect various changes in the real estate landscape in the area.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. Nehru Nagar 5th Street's current guideline value aligns with this median.

• New Colony Street: Rs 3,300 per sq.ft (2024)
• NVN Nagar: Rs 4,400 per sq.ft (2024)
• Old Thirumangalam End Point to 17th Main Road Facing West: Rs 13,200 per sq.ft (2024)
• Periyar Nagar: Rs 4,400 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar 5th Street, K Block West

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty, charged at 7%, would be Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000. Together, these fees total Rs 10,35,000. 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 5th Street, K Block West?

The Sub Registrar Office that covers Nehru Nagar 5th Street, K Block West is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Thirumangalam, the guideline value plays a crucial role in determining the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value as it can significantly affect the overall cost of purchasing or transferring property. Ensuring compliance with these values helps in smooth processing at the registration office.

Frequently asked questions

What is the current guideline value of Nehru Nagar 5th Street?

The current guideline value of Nehru Nagar 5th Street, K Block West is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 15% over the years.

What is the land classification of Nehru Nagar 5th Street?

Nehru Nagar 5th Street is classified as Residential Special Type - I.

Where can I find the registration office for Nehru Nagar 5th Street?

The registration office for Nehru Nagar 5th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7% of the guideline value.