Guideline Value for Nehru Nagar Kannagi Street

Nehru Nagar Kannagi Street guideline value

The current guideline value of Nehru Nagar Kannagi Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nehru Nagar Kannagi Street has changed

The guideline value for Nehru Nagar Kannagi Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This was followed by a significant increase in the 2023 revision to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 raised the guideline value further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing Nehru Nagar Kannagi Street's 2024 figure above that median.

• Nehru Nagar Extension Palani Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar M.G.R. Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar: Rs 1,650 per sq.ft (2024)
• Nehru Street (11): Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Nagar Kannagi Street?

The Sub Registrar Office that covers Nehru Nagar Kannagi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pozhichalur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating these fees.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as determined by the registration department. This ensures transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Nehru Nagar Kannagi Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the registration office for Nehru Nagar Kannagi Street?

The registration office for Nehru Nagar Kannagi Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Nehru Nagar Kannagi Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find more information on guideline values?

More information on guideline values can be accessed through the Registration Department's guideline value register (TNReginet) or by visiting the relevant links provided for other streets in Pozhichalur.