Guideline Value for Nehru Nagar Main Road

Nehru Nagar Main Road guideline value

The current guideline value of Nehru Nagar Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nehru Nagar Main Road has changed

The guideline value for Nehru Nagar Main Road has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was set at Rs 1,250 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 140% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which means that the guideline value of Nehru Nagar Main Road is below the median.

• Nehru Street: Rs 3,300 per sq.ft (2024)
• New Bharathiyar 1st Street: Rs 3,900 per sq.ft (2024)
• New Bharathiyar 2nd Street: Rs 3,900 per sq.ft (2024)
• New Bharathiyar Street: Rs 3,900 per sq.ft (2024)
• New colony 1st Lane: Rs 2,800 per sq.ft (2024)
• New Colony 1st Street: Rs 2,800 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 guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to 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 Main Road?

The Sub Registrar Office that covers Nehru Nagar Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value serves as a benchmark for property transactions in Palavanthangal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions. This value is regularly updated to reflect market conditions, and it is crucial to consider it during the registration process.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the stamp duty rate for properties in Nehru Nagar Main Road?

The stamp duty rate for properties in Nehru Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available on our site.