Guideline Value for Nehru Nagar Mathiyazhagan Street

Nehru Nagar Mathiyazhagan Street guideline value

The current guideline value of Nehru Nagar Mathiyazhagan Street 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 Mathiyazhagan Street has changed

In the 2017 revision, the guideline value for Nehru Nagar Mathiyazhagan Street was Rs 2,345 per sq.ft. From 2017 to the 2024 revision, there has been a significant increase of 64%, raising the value to the current rate of Rs 3,850 per sq.ft. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The 2024 revision reflects the current market conditions and the value has increased considerably since the last recorded figure in 2017. The increase indicates a change in the valuation standards applied to this street and its classification within the residential property market.

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 value for these streets is Rs 4,400 per sq.ft, placing Nehru Nagar Mathiyazhagan Street's guideline value below this median.

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

Stamp duty and registration fee for property in Nehru Nagar Mathiyazhagan Street

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 fees together to 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 the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Nehru Nagar Mathiyazhagan Street?

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

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties in the area.

Frequently asked questions

What is the current guideline value of Nehru Nagar Mathiyazhagan Street?

The current guideline value of Nehru Nagar Mathiyazhagan Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value of Nehru Nagar Mathiyazhagan Street has increased by 64%, from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024.

What is the classification of land in Nehru Nagar Mathiyazhagan Street?

The land classification for Nehru Nagar Mathiyazhagan Street is Residential Class II Type - III, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Where can I find the Sub Registrar Office for Nehru Nagar Mathiyazhagan Street?

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