Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, Acharapakkam village, under the Acchirapakkam SRO is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, it decreased to Rs 201 per sq.ft in 2017. From 2017 to 2023, the value surged by 99% to reach Rs 400 per sq.ft, a figure that remained unchanged in the 2024 revision.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value increased by 100% from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024.

Guideline values in Acharapakkam

Acharapakkam features 61 streets under the Acchirapakkam SRO, with guideline values ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value is Rs 400 per sq.ft, which is the same as that of Nehru Nagar.

• National Highway Ward 9: Rs 400 per sq.ft (2024)
• National Highway Ward 7: Rs 400 per sq.ft (2024)
• Nadu Street: Rs 350 per sq.ft (2024)
• North Colony: Rs 250 per sq.ft (2024)
• Om Sakthi Nagar Ward 9: Rs 400 per sq.ft (2024)
• Othavadai Extension Ward 8: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 detailed calculations.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office covering Nehru Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Acharapakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value when negotiating property prices to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark, ensuring that the transaction is recorded at a fair value as per government standards. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting a 100% increase overall.

What is the land classification for Nehru Nagar?

Nehru Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Nehru Nagar?

The registration office for Nehru Nagar is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nehru Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.