Guideline Value for Nehru Nagar Extension Palani Street

Nehru Nagar Extension Palani Street guideline value

The current guideline value for Nehru Nagar Extension Palani Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar Extension Palani Street has changed

The guideline value for Nehru Nagar Extension Palani Street has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,005 per sq.ft. This was followed by an increase to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The most recent revision in 2024 saw a further increase to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Nehru Nagar Extension Palani Street above this median.

• Nehru Nagar Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Kannagi Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Nehru Nagar M.G.R. Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar: Rs 1,650 per sq.ft (2024)
• Nehru Street (11): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Extension Palani Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 information.

Which Sub Registrar Office covers Nehru Nagar Extension Palani Street?

The Sub Registrar Office that covers Nehru Nagar Extension Palani Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Nagar Extension Palani Street?

The current guideline value of Nehru Nagar Extension Palani Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Pozhichalur with the same guideline value?

Other streets in Pozhichalur with the same guideline value of Rs 1,650 per sq.ft in 2024 include Nehru Nagar Bharathiyar Street, Nehru Nagar Kannagi Street, Nehru Nagar Main Road, Nehru Nagar M.G.R. Street, Nehru Nagar, and Nehru Street (11).

What is the registration fee for property in Nehru Nagar Extension Palani Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 16,50,000, the registration fee would be Rs 33,000.

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

The Sub Registrar Office for Nehru Nagar Extension Palani Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.