Guideline Value for Nehru Nagar Gandhiyar Street

Nehru Nagar Gandhiyar Street guideline value

The current guideline value of Nehru Nagar Gandhiyar 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 Gandhiyar Street has changed

The guideline value for Nehru Nagar Gandhiyar Street has seen several revisions over the years. The 2007 revision listed the value at Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,850 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register 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, indicating that Nehru Nagar Gandhiyar Street's 2024 figure is below the median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to 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.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nehru Nagar Gandhiyar Street?

The Sub Registrar Office that covers Nehru Nagar Gandhiyar 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 during the registration of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the total expenses involved in the transaction. Buyers should ensure that they are informed about the current rates to avoid any surprises during the registration process.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 157%.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value.

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

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

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft, while Nehru Nagar Gandhiyar Street's value of Rs 3,850 per sq.ft is below this median.