Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Nehru Nagar has changed

The guideline value of Nehru Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 1,005 per sq.ft in the 2017 revision, marking a 151% rise. However, there was no figure available for the years 2002, 2003, and 2012 in the register for this street.

Following the 2017 revision, the value rose to Rs 1,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 further increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% change from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, making Nehru Nagar's 2024 figure above this median.

• Nehru Nagar Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Extension Palani Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Kannagi Street: Rs 1,650 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Nehru Nagar M.G.R. Street: Rs 1,650 per sq.ft (2024)
• Nedunchiyan Street: Rs 1,100 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, these fees total Rs 1,48,500. 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 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in property transactions in Pozhichalur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps maintain transparency in property transactions, providing a reference point for buyers and sellers alike. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies 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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 313%.

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

Other streets in Pozhichalur with the same guideline value of Rs 1,650 per sq.ft for 2024 include Nehru Nagar Bharathiyar Street, Nehru Nagar Extension Palani Street, Nehru Nagar Kannagi Street, Nehru Nagar Main Road, and Nehru Nagar M.G.R. Street.

What are the registration fees for property in Nehru Nagar?

The registration fees for property in Nehru Nagar include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nehru Nagar located?

The Sub Registrar Office covering Nehru Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.