Guideline Value for Nehru Nagar Mathialagan Street Lane Viii

Nehru Nagar Mathialagan Street Lane Viii guideline value

The current guideline value of Nehru Nagar Mathialagan Street Lane Viii 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 Viii has changed

The guideline value for Nehru Nagar Mathialagan Street Lane Viii has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 3,850 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2023. This lack of data indicates that the street's value has not been assessed during those revisions.

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 in this area is Rs 4,400 per sq.ft, which means that the guideline value of Nehru Nagar Mathialagan Street Lane Viii is below this median.

• Nehru Nagar Mathialagan Street Lane Vii: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathiyazhagan Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane Vi: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Nedunchezhian Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Mathialagan Street Lane V: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Nethaji Road: Rs 3,850 per sq.ft (2024)

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

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, while the registration fee at 2% would be Rs 77,000, bringing the total fees 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. You can also use our stamp duty and registration fee calculator for more information.

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

The Nehru Nagar Mathialagan Street Lane Viii falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions while providing a clear framework for buyers and sellers.

Frequently asked questions

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

The current guideline value of Nehru Nagar Mathialagan Street Lane Viii 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 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Nehru Nagar Mathialagan Street Lane Viii?

The land classification for Nehru Nagar Mathialagan Street Lane Viii is Residential Class II Type - III.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot valued at Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for this street?

The Velacheri Sub Registrar Office handles the registration for Nehru Nagar Mathialagan Street Lane Viii, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.