Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar in Nemili village under the Sriperumpudur SRO is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Nehru Nagar has changed

Over the years, the guideline value for Nehru Nagar has seen various revisions. The 2007 revision set the value at Rs 105 per sq.ft, which increased to Rs 250 per sq.ft in 2012, marking a significant rise of 138%. However, the value dropped to Rs 167 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision maintained the value at Rs 250 per sq.ft, and the same value was retained in the 2024 revision, resulting in no change from the previous year.

The revisions for the years 2002 and 2003 do not have figures available for Nehru Nagar in the register. Overall, from 2007 to 2024, the guideline value has increased by 138%.

Guideline values in Nemili

Nehru Nagar's guideline value of Rs 250 per sq.ft aligns with the median guideline value of Rs 250 per sq.ft for the 66 streets in Nemili under the Sriperumpudur SRO, which range from Rs 150 to Rs 1,000 per sq.ft.

• Nehru Street: Rs 250 per sq.ft (2024)
• Nemili Park: Rs 250 per sq.ft (2024)
• Nemili Sri Lakshmi Town: Rs 250 per sq.ft (2024)
• Nadu Street: Rs 210 per sq.ft (2024)
• Murugan Koil Street: Rs 210 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nemili, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions reflect the official valuation set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. This value serves as a benchmark for both parties during negotiations and final agreements.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 250 per sq.ft from 2023 to 2024. It increased from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2012, and from Rs 105 per sq.ft in 2007 to Rs 250 per sq.ft in 2012.

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

Other streets in Nemili with a guideline value of Rs 250 per sq.ft include Nehru Street, Nemili Park, and Mookambigai Nagar. Nadu Street and Murugan Koil Street have a lower guideline value of Rs 210 per sq.ft.

What is the registration fee for property in Nehru Nagar?

The registration fee for property in Nehru Nagar is 2% of the guideline value. For example, for a plot valued at Rs 2,50,000, the registration fee would be Rs 5,000.

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

The Sub Registrar Office covering Nehru Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details by visiting the provided link.