Guideline Value for Nehru Nagar Main Road

Nehru Nagar Main Road guideline value

The current guideline value of Nehru Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class IV 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 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value for Nehru Nagar Main Road is below this median.

• Nehru Nagar 4rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nehru Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Nethaji Street (Ramapuram): Rs 3,600 per sq.ft (2024)
• Nethaji Street (Venkatapuram): Rs 4,000 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 of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Nagar Main Road?

The Sub Registrar Office covering Nehru Nagar Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will base the stamp duty and registration fees on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. This helps in maintaining transparency and accountability in property dealings within the region.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Ambattur with the same guideline value?

Other streets in Ambattur with the same guideline value of Rs 2,200 per sq.ft include Nehru Nagar 1st Street, Nehru Nagar 2nd Street, Nehru Nagar 3rd Street, and Nehru Nagar 4rd Street.

What is the registration fee for property in Nehru Nagar Main Road?

The registration fee for property in Nehru Nagar Main Road is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where can I find the Sub Registrar Office for Nehru Nagar Main Road?

The Sub Registrar Office for Nehru Nagar Main Road is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.