Guideline Value for Nehru Nagar Kambar Street

Nehru Nagar Kambar Street guideline value

The current guideline value of Nehru Nagar Kambar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Nehru Nagar Kambar Street has changed

Looking at the revisions over the years, the guideline value for Nehru Nagar Kambar Street has seen several changes. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, an increase from Rs 3,500 per sq.ft in 2023, marking a change of +10%. Prior to that, the 2017 revision recorded the value at Rs 2,345 per sq.ft, which reflects a significant increase of +49% to the 2023 figure. The 2012 revision also noted a value of Rs 3,500 per sq.ft, but this represented a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Nehru Nagar Kambar Street. The 2012 figure of Rs 3,500 per sq.ft was the same as the 2023 revision, but the street's value has now been adjusted higher in 2024.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024 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 Kambar Street's 2024 guideline value is below this median.

• Nehru Nagar Kannagi Street Lane I: 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 Kannagi Street Lane Ii: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kamarajar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane Iii: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Jeevanandham Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Kambar 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, bringing the total cost for these fees 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 information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Kambar Street?

The Sub Registrar Office that covers Nehru Nagar Kambar 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 plays a crucial role during property transactions in Velachery. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value of Nehru Nagar Kambar 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, representing a +10% increase. The value has also increased from Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification of Nehru Nagar Kambar Street?

Nehru Nagar Kambar Street is classified as Residential Class II Type - III. This classification indicates the type of development permissible in the area.

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

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

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

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