Guideline Value for Nehru Nagar

Nehru Nagar guideline value

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

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen several revisions over the years. In 2007, the value was Rs 25 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a change of +1500%. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, reflecting a drop of -33%. The value then rose to Rs 400 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2007 to 2024, there has been a total increase of +1500%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koozhangacheri

Koozhangacheri village has a total of 47 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 200 to Rs 1,200 per sq.ft. The median guideline value for the village is Rs 226 per sq.ft, placing Nehru Nagar's 2024 figure above this median.

• Navarthinapuri: Rs 400 per sq.ft (2024)
• Navarathnapuri Phase - II: Rs 747 per sq.ft (2024)
• New Mellaniam Nagar: Rs 226 per sq.ft (2024)
• Muthallamman Kovil Street: Rs 200 per sq.ft (2024)
• Perumal Kovil Street: Rs 200 per sq.ft (2024)
• Lenin 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, and the registration fee at 2% would be Rs 8,000. Together, the total cost for these fees would be Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Koozhangacheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When a property is bought or sold, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. This helps in maintaining a standard procedure for property transactions within the region.

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 changed from Rs 25 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value in Koozhangacheri?

The median guideline value in Koozhangacheri is Rs 226 per sq.ft. Nehru Nagar's 2024 guideline value is above this median.

What fees are associated with property registration in Nehru Nagar?

For a property in Nehru Nagar, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Nehru Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more details online.