Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Pammal village under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 232 per sq.ft, which increased to Rs 263 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, reflecting a 37% increase. By 2017, the value had jumped to Rs 1,206 per sq.ft, showcasing a substantial 235% increase. The register has no figure for this street for the year 2012. In 2023, the guideline value was Rs 1,800 per sq.ft, which was a 49% increase from 2017.

The most recent revision in 2024 brought the guideline value to Rs 1,980 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 753%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Nehru Nagar's 2024 figure below this median.

• Nehru Nagar, 1st Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar, 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar, 3rd Street: Rs 1,980 per sq.ft (2024)
• Neelamegam Street /LIC Colony: Rs 2,530 per sq.ft (2024)
• Neelakandan Street (P.N.)/ Ganapathy Nagar: Rs 1,870 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Nehru Nagar?

Nehru Nagar is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is utilized to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should always be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 232 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 753% over this period.

What is the stamp duty rate for properties in Nehru Nagar?

The stamp duty rate for properties in Nehru Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the other streets in Pammal with the same guideline value?

Other streets in Pammal with a guideline value of Rs 1,980 per sq.ft include Nehru Nagar, 1st Street, 2nd Cross Street, 2nd Street, and 3rd Street.