Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Kottivakkam village under the Adayar SRO, is Rs 4,401 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Special Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. In 2002, the value was Rs 384 per sq.ft, which increased to Rs 457 per sq.ft in 2003, marking a 19% rise. The value continued to climb, reaching Rs 2,500 per sq.ft in 2007, a substantial increase of 447%. Following this, the value was Rs 4,000 per sq.ft in 2012, reflecting a decrease of 33% from the previous revision. In 2017, the guideline value was Rs 2,680 per sq.ft, and it rose again to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,401 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value for Nehru Nagar has increased by 1,046%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Nehru Nagar's 2024 value above this median.

• Nehru Nagar 11th Link Road: Rs 4,401 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 4,401 per sq.ft (2024)
• Nehru Nagar Kamaraj Street: Rs 4,401 per sq.ft (2024)
• Natesan Colony: Rs 3,900 per sq.ft (2024)
• Natco Colony West Street: Rs 3,900 per sq.ft (2024)
• Natco Colony West Cross Street: Rs 3,900 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 4,401 per sq.ft, the total guideline value would be Rs 44,01,000. The stamp duty at 7% would be Rs 3,08,070, and the registration fee at 2% would be Rs 88,020, totaling Rs 3,96,090. 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 4,401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 384 per sq.ft in 2002 to Rs 4,401 per sq.ft in 2024, showing an overall increase of 1,046% over this period.

What are the stamp duty rates for property in Nehru Nagar?

The stamp duty for property in Nehru Nagar is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Nehru Nagar is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Kottivakkam?

The median guideline value for streets in Kottivakkam is Rs 3,900 per sq.ft, with Nehru Nagar's value being above this median at Rs 4,401 per sq.ft.