Guideline Value for Nehru Nagar Bharathidasan Street

Nehru Nagar Bharathidasan Street guideline value

The current guideline value of Nehru Nagar Bharathidasan Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Nehru Nagar Bharathidasan Street has changed

The guideline value for Nehru Nagar Bharathidasan Street has undergone several revisions. In 2012, the guideline value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. This marked a decline of 33%. However, from 2017 to 2024, the value increased significantly by 64%, reaching the current rate of Rs 3,850 per sq.ft.

Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 10%. It is important to note that the guideline value register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Velachery

In Velachery village, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Nehru Nagar Bharathidasan Street's 2024 figure is below this median.

• Nehru Nagar Avvaiyar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar - Bharathiyar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Anna Street Lane: Rs 3,850 per sq.ft (2024)
• Nehru Nagar C.D.Yes Kudieruppu: Rs 4,400 per sq.ft (2024)
• Nehru Nagar Anna Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Elango Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Bharathidasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. 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 Bharathidasan Street?

The Sub Registrar Office that covers Nehru Nagar Bharathidasan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Velachery. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar Bharathidasan Street?

The current guideline value of Nehru Nagar Bharathidasan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024.

What is the land classification for Nehru Nagar Bharathidasan Street?

Nehru Nagar Bharathidasan Street is classified as Residential Class II Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Nehru Nagar Bharathidasan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 3,46,500 in fees.