Guideline Value for Nehru Nagar Main Road

Nehru Nagar Main Road guideline value

The current guideline value of Nehru Nagar Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for Nehru Nagar Main Road has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

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

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 Main Road's 2024 figure above that median.

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

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar Main Road?

The Sub Registrar Office that covers Nehru Nagar Main Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 critical factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar Main Road?

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

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for property in Nehru Nagar Main Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,48,500.

Which office do I need to visit for registration?

The Pammal Sub Registrar Office is responsible for registrations in Nehru Nagar Main Road. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and previous revisions. It is updated periodically to reflect current market conditions.