Guideline Value for Nehru Nagar Thiru. V.K. Street

Nehru Nagar Thiru. V.K. Street guideline value

The current guideline value of Nehru Nagar Thiru. V.K. Street 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 Thiru. V.K. Street has changed

The guideline value for Nehru Nagar Thiru. V.K. Street has seen significant changes over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 2,345 per sq.ft in 2017, marking a 56% rise. The value then jumped to Rs 3,500 per sq.ft in 2023, a 49% increase from the previous revision.

As of 2024, the guideline value stands at Rs 3,850 per sq.ft, reflecting a 10% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 157%. It is important to note that there are no figures available for the years 2002, 2003, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, making the current guideline value of Nehru Nagar Thiru. V.K. Street below this median.

• Nehru Nagar Thiruvalluvar Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Veerapandia Kattabomman Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Veera Vanchinathan Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar (S.No.299/2E): Rs 4,400 per sq.ft (2024)
• Nehru Nagar Sathiyavani Muthu Street: Rs 3,850 per sq.ft (2024)
• Nehru Nagar Sathiyamurthi Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar Thiru. V.K. Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar Thiru. V.K. Street?

The Sub Registrar Office that covers Nehru Nagar Thiru. V.K. Street 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 when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When a property is registered, the guideline value helps in calculating the applicable charges, which are based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar Thiru. V.K. Street?

The current guideline value of Nehru Nagar Thiru. V.K. Street 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 increased from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 157% over the years.

What is the land classification of Nehru Nagar Thiru. V.K. Street?

Nehru Nagar Thiru. V.K. Street is classified as Residential Class II Type - III.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000, with stamp duty at Rs 2,69,500 and registration fee at Rs 77,000, totaling Rs 3,46,500.

Where can I find the Sub Registrar Office for Nehru Nagar Thiru. V.K. Street?

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