Guideline Value for Nehru Nagar Kannagi Street Lane Iii

Nehru Nagar Kannagi Street Lane Iii guideline value

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

Over the years, the guideline value for Nehru Nagar Kannagi Street Lane Iii has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,345 per sq.ft. The next revision in 2023 increased the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

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 that have 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 Kannagi Street Lane Iii's 2024 figure is below this median.

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

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

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, making the total cost Rs 3,46,500. Please 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 Kannagi Street Lane Iii?

The Sub Registrar Office that covers Nehru Nagar Kannagi Street Lane Iii is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO through our website.

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, which are calculated based on this value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it impacts the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property transactions.

Frequently asked questions

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

The current guideline value of Nehru Nagar Kannagi Street Lane Iii 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 of Nehru Nagar Kannagi Street Lane Iii?

Nehru Nagar Kannagi Street Lane Iii is classified as Residential Class II Type - III. This classification is important for understanding the zoning and usage of the land.

Where can I find the registration office for Nehru Nagar Kannagi Street Lane Iii?

The registration office for Nehru Nagar Kannagi Street Lane Iii 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 Kannagi Street Lane Iii?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.