Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then dropped to Rs 536 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 800 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 figure shows an increase of 300%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kavanur

In Kavanur village, there are 109 streets under the Gooduvancheri SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,239 per sq.ft, with the median being Rs 800 per sq.ft. Nehru Nagar's 2024 guideline value aligns with this median.

• Nedunsalai Thittam Nagar-6: Rs 800 per sq.ft (2024)
• NEW Chennai City: Rs 800 per sq.ft (2024)
• New Chennai City Phase - I: Rs 670 per sq.ft (2024)
• Nachiar Avenue: Rs 1,000 per sq.ft (2024)
• Padavattamman Koil Street: Rs 747 per sq.ft (2024)
• M.M Nagar: Rs 800 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kavanur. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It ensures that the property is registered at a value that reflects the established rates in the area, thereby facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, dropping to Rs 536 per sq.ft in 2017, and then remaining at Rs 800 per sq.ft in both 2023 and 2024.

Where can I find the registration office for Nehru Nagar?

The registration office for Nehru Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

What are the other streets in Kavanur with similar guideline values?

Other streets in Kavanur with similar guideline values include Nedunsalai Thittam Nagar-6, NEW Chennai City, and M.M Nagar, all at Rs 800 per sq.ft in 2024.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,00,000 would incur a stamp duty of Rs 56,000.