Guideline Value for Nehru Nagar Mathialagan Street Lane Iv

Nehru Nagar Mathialagan Street Lane Iv guideline value

The current guideline value for Nehru Nagar Mathialagan Street Lane Iv 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 Mathialagan Street Lane Iv has changed

The guideline value for Nehru Nagar Mathialagan Street Lane Iv has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 3,500 per sq.ft. However, this figure decreased by 33% to Rs 2,345 per sq.ft in the 2017 revision. The most recent revision in 2024 has seen a significant increase, bringing the guideline value to Rs 3,850 per sq.ft, which is a 64% rise from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, indicating that the guideline value for Nehru Nagar Mathialagan Street Lane Iv is below the median.

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

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, charged at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Nehru Nagar Mathialagan Street Lane Iv 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 plays a crucial role in the registration of properties in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value as it directly affects the costs involved in property transactions. Understanding the guideline value can help ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Nehru Nagar Mathialagan Street Lane Iv 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 seen several changes, with the most recent revision in 2024 increasing it to Rs 3,850 per sq.ft from Rs 2,345 per sq.ft in 2017. The value was Rs 3,500 per sq.ft in 2012.

What is the land classification of Nehru Nagar Mathialagan Street Lane Iv?

Nehru Nagar Mathialagan Street Lane Iv is classified as Residential Class II Type - III.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Nehru Nagar Mathialagan Street Lane Iv?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.