Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Kaval Kazhani village, is Rs 400 per sq.ft, effective from 1 July 2024. This area falls under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has undergone several revisions over the years. The earliest recorded figure in 2007 was Rs 25 per sq.ft, which saw a significant increase to Rs 400 per sq.ft in 2012. However, in 2017, the value adjusted down to Rs 268 per sq.ft, only to rise again to Rs 400 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, while from 2012 to 2017, it decreased by 33%. The most remarkable change occurred from 2007 to 2012, where the value surged by 1500%. Overall, comparing the 2007 and 2024 revisions, the guideline value has increased by 1500%.

Guideline values in Kaval Kazhani

Kaval Kazhani village has 20 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 226 to Rs 1,550 per sq.ft. The guideline value for Nehru Nagar is above the median of Rs 300 per sq.ft. Below are the guideline values for other streets in Kaval Kazhani:

• Ramasubbu Nagar: Rs 226 per sq.ft (2024)
• R.S Avenue: Rs 226 per sq.ft (2024)
• Santhosh Nagar: Rs 226 per sq.ft (2024)
• SBI Staff colony: Rs 226 per sq.ft (2024)
• JeiGanesh Nagar: Rs 300 per sq.ft (2024)
• Sri Nagar: Rs 400 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 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Nagar?

Nehru Nagar is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kaval Kazhani. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, both parties must consider the guideline value, as it may influence the sale price and the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase from Rs 25 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, and it remains at Rs 400 per sq.ft in both 2023 and 2024.

What is the classification of land in Nehru Nagar?

Nehru Nagar is classified as Residential Special Type - I, indicating its purpose for residential development.

What are the stamp duty and registration fees for property in Nehru Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000.

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

The Sunguvarchattram Sub Registrar Office, which covers Nehru Nagar, is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu.