Guideline Value for Nehru Nagar Sastri Street

Nehru Nagar Sastri Street guideline value

The current guideline value of Nehru Nagar Sastri Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nehru Nagar Sastri Street has changed

The guideline value for Nehru Nagar Sastri Street has seen several revisions over the years. In 2003, the value was Rs 796 per sq.ft, which increased to Rs 1,850 per sq.ft in 2007, marking a significant rise of 132%. The value then jumped to Rs 4,000 per sq.ft in 2012, an increase of 116%. However, in 2017, the value dropped to Rs 2,680 per sq.ft, reflecting a decrease of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and is now Rs 4,400 per sq.ft in 2024, showing a 10% increase from the previous year.

It is important to note that the register has no figure for Nehru Nagar Sastri Street for the year 2002. Overall, from 2003 to 2024, the guideline value has increased by 453%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Nehru Nagar Sastri Street.

• Nehru Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Nathan Street: Rs 3,850 per sq.ft (2024)
• Natarajan Street: Rs 3,850 per sq.ft (2024)
• N.G.O.Colony 1st Street: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 3rd Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar Sastri Street?

The Nehru Nagar Sastri Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring compliance with local regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs that need to be accounted for in any property transaction. This ensures that the transaction is legally recognized and properly documented.

Frequently asked questions

What is the current guideline value for Nehru Nagar Sastri Street?

The current guideline value for Nehru Nagar Sastri Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 796 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 453% over this period.

What is the land classification for Nehru Nagar Sastri Street?

Nehru Nagar Sastri Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Nehru Nagar Sastri Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Nehru Nagar Sastri Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.