Guideline Value for Nehru Nagar Kanniamman Koil Street

Nehru Nagar Kanniamman Koil Street guideline value

The current guideline value of Nehru Nagar Kanniamman Koil Street 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 Kanniamman Koil Street has changed

The guideline value for Nehru Nagar Kanniamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the previous 2017 revision of Rs 2,345 per sq.ft. The value remained at Rs 3,500 per sq.ft in 2012 until it increased to Rs 3,850 per sq.ft in the 2023 revision, marking a significant increase of 49%.

From 2023 to 2024, the guideline value increased by 10%, bringing it to the current rate of Rs 3,850 per sq.ft. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Nehru Nagar Kanniamman Koil Street's 2024 figure below that median.

• Nehru Nagar Kannaki Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Karunanidhi Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane V: Rs 3,850 per sq.ft (2024)
• Nehru Nagar K.V.K. Samy Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Kannagi Street Lane Iv: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Lake View Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Kanniamman Koil Street

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, bringing the total 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.

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

Which Sub Registrar Office covers Nehru Nagar Kanniamman Koil Street?

The Sub Registrar Office that covers Nehru Nagar Kanniamman Koil 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 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the sale price is in line with the prevailing market rates, as it is used to calculate the necessary fees and taxes. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nehru Nagar Kanniamman Koil Street?

The current guideline value of Nehru Nagar Kanniamman Koil 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, a 10% increase. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

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.

Which office handles registrations for Nehru Nagar Kanniamman Koil Street?

The Velacheri Sub Registrar Office handles registrations for Nehru Nagar Kanniamman Koil Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees payable during property transactions. It ensures that the sale price aligns with the prevailing rates and complies with local regulations.