Guideline Value for Nehru Nagar Mathialagan Street Lane Vi

Nehru Nagar Mathialagan Street Lane Vi guideline value

The current guideline value of Nehru Nagar Mathialagan Street Lane Vi 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. The land classification for this area is Residential Class II Type - III.

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

The guideline value for Nehru Nagar Mathialagan Street Lane Vi has seen a revision from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, marking an increase of 10%. The register has no figure for this street for the years 2023, 2017, 2007, 2003, and 2002.

In the 2012 revision, the guideline value was set at Rs 3,500 per sq.ft. The absence of figures for the previous revisions indicates that there were no recorded changes for this street in those years.

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, with a median value of Rs 4,400 per sq.ft. The guideline value for Nehru Nagar Mathialagan Street Lane Vi is below this median.

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

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

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, totaling Rs 3,46,500. 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 precise calculations.

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

The Sub Registrar Office that covers Nehru Nagar Mathialagan Street Lane Vi 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 for property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction.

Frequently asked questions

What is the current guideline value for Nehru Nagar Mathialagan Street Lane Vi?

The current guideline value for Nehru Nagar Mathialagan Street Lane Vi is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024, which is a change of 10%. There are no figures for the years 2023, 2017, 2007, 2003, and 2002.

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

Other streets in Velachery that share the same guideline value of Rs 3,850 per sq.ft include Nehru Nagar Mathialagan Street Lane V, Lane Vii, Lane Iv, Lane Viii, Lane Iii, and Nehru Nagar Mathiyazhagan Street.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Nehru Nagar Mathialagan Street Lane Vi is 7%. This is applied to the higher of the guideline value or the sale price during the registration process.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for Nehru Nagar Mathialagan Street Lane Vi is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can also find your SRO online.