Guideline Value for Nehru Nagar Kannagi Street Lane Ii

Nehru Nagar Kannagi Street Lane Ii guideline value

The current guideline value of Nehru Nagar Kannagi Street Lane Ii 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 Kannagi Street Lane Ii has changed

The guideline value for Nehru Nagar Kannagi Street Lane Ii has undergone several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 3,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value for these streets is Rs 4,400 per sq.ft, placing Nehru Nagar Kannagi Street Lane Ii's 2024 figure below this median.

• Nehru Nagar Kannagi Street Lane I: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane Iii: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kambar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane Iv: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane V: 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)

Stamp duty and registration fee for property in Nehru Nagar Kannagi Street Lane Ii

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.

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

Which Sub Registrar Office covers Nehru Nagar Kannagi Street Lane Ii?

The Nehru Nagar Kannagi Street Lane Ii falls under 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 information.

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

The guideline value is a crucial factor in the registration process of property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees based on the higher value between the guideline and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar Kannagi Street Lane Ii?

The current guideline value of Nehru Nagar Kannagi Street Lane Ii 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, an increase of 10%. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for Nehru Nagar Kannagi Street Lane Ii?

Nehru Nagar Kannagi Street Lane Ii is classified as Residential Class II Type - III, indicating its designation for residential purposes.

What is the median guideline value in Velachery?

The median guideline value for the 2,691 streets in Velachery is Rs 4,400 per sq.ft, which is above the current value for Nehru Nagar Kannagi Street Lane Ii.

Where can I find the Sub Registrar Office for Nehru Nagar Kannagi Street Lane Ii?

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