Guideline Value for Nehru Nagar K.V.K. Samy Street

Nehru Nagar K.V.K. Samy Street guideline value

The current guideline value of Nehru Nagar K.V.K. Samy 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 K.V.K. Samy Street has changed

Since the 2012 revision, the guideline value for Nehru Nagar K.V.K. Samy Street has seen a notable increase. The 2012 revision set the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year and an overall increase of 10% from the 2012 figure.

In terms of percentage changes, from 2017 to 2023, there was a 49% increase, while the drop from 2012 to 2017 was 33%. The revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

Guideline values in Velachery

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

• Nehru Nagar Karunanidhi Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Lake View Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kanniamman Koil Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Madhavan Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannaki Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane V: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar K.V.K. Samy 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 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 detailed calculations.

Which Sub Registrar Office covers Nehru Nagar K.V.K. Samy Street?

The Nehru Nagar K.V.K. Samy Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in 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 during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of the transaction. This system helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nehru Nagar K.V.K. Samy Street?

The current guideline value of Nehru Nagar K.V.K. Samy 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 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012, showing a significant increase over the years.

What is the land classification for Nehru Nagar K.V.K. Samy Street?

Nehru Nagar K.V.K. Samy Street is classified as Residential Class II Type - III, indicating its designation for residential purposes.

Where can I find the Velacheri Sub Registrar Office?

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

How is the stamp duty calculated for properties in Velachery?

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 the rate of 7%.