Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 66 per sq.ft. This increased to Rs 127 per sq.ft in 2003, marking a change of +92%. The value then rose significantly to Rs 300 per sq.ft in 2007, a change of +136%. Following this, the 2012 revision set the value at Rs 1,800 per sq.ft, a substantial increase of +500%. However, the value dropped to Rs 1,206 per sq.ft in 2017, reflecting a decrease of -33%. The 2023 revision saw the value increase to Rs 1,800 per sq.ft, and the most recent 2024 revision set it at Rs 1,960 per sq.ft, an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +2870%. The register has no figures for the years between these revisions for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, indicating that Nehru Nagar's 2024 figure is below this median.

• Nehru Nagar Loganathan Street: Rs 1,960 per sq.ft (2024)
• Nesamani Street: Rs 1,960 per sq.ft (2024)
• Naprat Nagar: Rs 1,960 per sq.ft (2024)
• Nandagopal Nagar: Rs 2,750 per sq.ft (2024)
• Muthiah Nagar: Rs 1,980 per sq.ft (2024)
• M.R.Nagar: Rs 2,750 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 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total cost for these fees to Rs 1,76,400. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value ensures that the transaction is recorded accurately and transparently.

At the time of registration, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 66 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, marking an overall increase of +2870%.

What is the land classification for Nehru Nagar?

The land classification for Nehru Nagar is Residential Class II Type - I.

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

The Sub Registrar Office for Nehru Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated in Nehru Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 1,960 per sq.ft would incur a stamp duty of Rs 1,37,200.