Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Koyakbedu village, under the AnnaNagar SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 1,200 per sq.ft. This increased dramatically to Rs 7,000 per sq.ft in 2012, reflecting a rise of 483%. However, from 2012 to 2017, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 7,000 per sq.ft, followed by the current revision in 2024, which set the value at Rs 7,700 per sq.ft, marking a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 542%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Nehru Nagar's 2024 figure above this median.

• New Colony: Rs 3,300 per sq.ft (2024)
• New Street: Rs 3,300 per sq.ft (2024)
• Nadu Street (Centre Street): Rs 3,300 per sq.ft (2024)
• North Mada Street (Kurungaleeswarar Koil): Rs 3,800 per sq.ft (2024)
• Mullai Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Palani Andavar Colony: Rs 3,300 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nehru Nagar?

Nehru Nagar falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process for property transactions in Koyakbedu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence negotiations and the overall transaction process. Buyers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 1,200 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, which is an overall increase of 542%.

What is the land classification for Nehru Nagar?

The land classification for Nehru Nagar is Mixed Type - II, which indicates the type of development and usage permitted in the area.

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

The Sub Registrar Office covering Nehru Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in Nehru Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 5,39,000.