Guideline Value for Nehru Nagar Kannagi Street Lane Iv

Nehru Nagar Kannagi Street Lane Iv guideline value

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

How the guideline value of Nehru Nagar Kannagi Street Lane Iv has changed

The guideline value for Nehru Nagar Kannagi Street Lane Iv has seen several revisions over the years. Starting with the 2012 revision, the value was set at Rs 3,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, and then rose again to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Looking at the overall changes, from 2012 to 2024, the guideline value has increased by 10%. The most notable change occurred between 2017 and 2023, where there was a 49% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are a total of 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 in this area is Rs 4,400 per sq.ft, positioning Nehru Nagar Kannagi Street Lane Iv below that median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the guideline value totals 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, together totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Sub Registrar Office that covers Nehru Nagar Kannagi Street Lane Iv is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a reference point for property transactions to ensure that the appropriate fees are collected based on the value of the property.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the financial aspects of the transaction, including the total cost involved in registration. Ensuring compliance with these values can help avoid legal issues during the property transfer process.

Frequently asked questions

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

The current guideline value of Nehru Nagar Kannagi Street Lane Iv 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 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

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

The land classification for Nehru Nagar Kannagi Street Lane Iv is Residential Class II Type - III.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office located for this street?

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