Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Vallam village under the Chengleput Joint I SRO, is Rs 1,000 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

Over the years, the guideline value of Nehru Nagar has seen several revisions. The most recent revision in 2024 maintains the value at Rs 1,000 per sq.ft, which is the same as the 2023 revision. The 2017 revision saw a significant increase from Rs 670 per sq.ft to Rs 1,000 per sq.ft, marking a 49% rise. The 2012 revision also set the value at Rs 1,000 per sq.ft, but prior revisions in 2002, 2003, and 2007 have no figures recorded for this street.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has remained constant at Rs 1,000 per sq.ft. This consistency reflects the stability of the guideline value in recent years.

Guideline values in Vallam

In Vallam village, there are 30 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 750 to Rs 1,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. Nehru Nagar's 2024 figure aligns with this median.

• Narayana Avenue: Rs 1,000 per sq.ft (2024)
• Muthamizh Nagar: Rs 1,000 per sq.ft (2024)
• Pandian Nagar: Rs 1,000 per sq.ft (2024)
• Mariamman Koil Street: Rs 750 per sq.ft (2024)
• Preethi Nagar: Rs 850 per sq.ft (2024)
• Madha Koil Street: Rs 750 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 1,000 per sq.ft, the total guideline value is Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When you register a property, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct fees are paid to the authorities.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft from 2012 to 2024, with a notable increase from Rs 670 per sq.ft in 2017. The 2023 revision also maintained the value at Rs 1,000 per sq.ft.

What is the land classification of Nehru Nagar?

Nehru Nagar is classified as Residential Special Type - I, indicating its designation for residential development within Vallam village.

Where can I find the Chengleput Joint I SRO?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Nehru Nagar and surrounding areas.

How is the stamp duty calculated in Vallam?

Stamp duty in Vallam is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 10,00,000 would incur a stamp duty of Rs 70,000 at 7%.