Guideline Value for Nehru Nagar Elango Street

Nehru Nagar Elango Street guideline value

The current guideline value of Nehru Nagar Elango Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Nehru Nagar Elango Street has changed

The guideline value for Nehru Nagar Elango Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, the value then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure.

There are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Nehru Nagar Elango Street's 2024 figure below this median.

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

Stamp duty and registration fee for property in Nehru Nagar Elango 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, calculated at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost to Rs 3,46,500. 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 Elango Street?

The Sub Registrar Office that covers Nehru Nagar Elango 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 figure used during the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. This value helps in calculating the costs associated with the transfer of property ownership, making it an essential aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value for Nehru Nagar Elango Street?

The current guideline value for Nehru Nagar Elango 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 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 157% over the years.

What is the land classification for Nehru Nagar Elango Street?

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

Where can I find the Sub Registrar Office for Nehru Nagar Elango Street?

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

How is stamp duty calculated for properties in Nehru Nagar Elango Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.