Guideline Value for Nehru Nagar Mathialagan Street Lane Ii

Nehru Nagar Mathialagan Street Lane Ii guideline value

The current guideline value for Nehru Nagar Mathialagan Street Lane Ii is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Nehru Nagar Mathialagan Street Lane Ii has changed

The guideline value for Nehru Nagar Mathialagan Street Lane Ii 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 Rs 2,345 per sq.ft in 2017. The value remained unchanged until the 2023 revision, which increased it to Rs 3,500 per sq.ft. Following that, the 2024 revision raised the guideline value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

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, indicating that Nehru Nagar Mathialagan Street Lane Ii's 2024 figure is below this median.

• Nehru Nagar Mathialagan Street Lane I: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane Iii: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane Iv: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane V: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane Vi: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane Vii: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Mathialagan Street Lane Ii

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Mathialagan Street Lane Ii?

The Sub Registrar Office that covers Nehru Nagar Mathialagan Street Lane Ii 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 determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar Mathialagan Street Lane Ii?

The current guideline value for Nehru Nagar Mathialagan Street Lane Ii 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. From 2017 to 2023, it increased by 49%, and from 2012 to 2017, it decreased by 33%.

What is the land classification for this street?

Nehru Nagar Mathialagan Street Lane Ii is classified as Residential Class II Type - III under the guidelines.

Where can I find the Sub Registrar Office for this area?

The Velacheri Sub Registrar Office covers Nehru Nagar Mathialagan Street Lane Ii, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.