Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Valarpuram village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 200% rise. However, it then decreased to Rs 201 per sq.ft in the 2017 revision, which was a 33% drop. The 2023 revision maintained the value at Rs 300 per sq.ft, showing no change from the previous year. The current guideline value of Rs 300 per sq.ft, effective from 1 July 2024, also reflects no change from the 2023 revision.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the current value of Nehru Nagar.

• NRI Centre City: Rs 700 per sq.ft (2024)
• Muthamil Nagar: Rs 300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 200 per sq.ft (2024)
• Main Road: Rs 700 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total fees Rs 27,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

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 Valarpuram

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

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. This value is essential for both buyers and sellers to understand their 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 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and has remained at Rs 300 per sq.ft in both 2023 and 2024.

What is the median guideline value in Valarpuram?

The median guideline value in Valarpuram is Rs 300 per sq.ft, which is the same as the current value for Nehru Nagar.

What are the stamp duty rates applicable in Nehru Nagar?

The stamp duty rate applicable in Nehru Nagar is 7% on the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

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

The Sub Registrar Office for Nehru Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.