Guideline Value for Nehru Nagar Kamarajar Street

Nehru Nagar Kamarajar Street guideline value

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

The guideline value of Nehru Nagar Kamarajar Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The value rebounded to Rs 3,500 per sq.ft in 2023, and has now risen to Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%, reflecting the changes in the area over the years.

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, with a median value of Rs 4,400 per sq.ft. Nehru Nagar Kamarajar Street's current guideline value is below this median.

• Nehru Nagar Jeevanandham Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kamarajar Street (Alias) T.N.H.B 5th Avenue: Rs 6,050 per sq.ft (2024)
• Nehru Nagar Govindasamy Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Gandhiyar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kambar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane I: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Kamarajar 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, resulting in a total of 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Kamarajar Street?

The Sub Registrar Office that covers Nehru Nagar Kamarajar 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Nehru Nagar Kamarajar 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 from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 157% over this period.

What is the stamp duty for properties in Nehru Nagar Kamarajar Street?

The stamp duty for properties in Nehru Nagar Kamarajar Street is 7% of the guideline value or the sale price, whichever is higher.

Which office registers properties in Nehru Nagar Kamarajar Street?

The Velacheri Sub Registrar Office is responsible for registering properties in Nehru Nagar Kamarajar Street.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.