Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Nehru Nagar has changed

Since the 2007 revision, the guideline value for Nehru Nagar has seen significant changes. In 2007, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 233%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. Following this, the value surged to Rs 5,000 per sq.ft in 2023, and most recently, it has been revised to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures for the years 2002 and 2003 in the register for this street.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. Nehru Nagar's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

• Nethaji Nagar & Streets: Rs 3,800 per sq.ft (2024)
• North High Court Colony: Rs 3,800 per sq.ft (2024)
• North Jaganatha Nagar 1 to 12 Street: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar Annex: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar First Prathna Salai: Rs 5,500 per sq.ft (2024)
• North Jaganatha Nagar I Cross Street: Rs 5,500 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 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Konnur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, indicating an overall increase of 267% over the years.

What are the other streets in Konnur with their guideline values?

Other streets in Konnur have varying guideline values, with some streets like Nethaji Nagar and North High Court Colony at Rs 3,800 per sq.ft, while others like North Jaganatha Nagar streets are at Rs 5,500 per sq.ft.

What fees are associated with buying property in Nehru Nagar?

When buying property in Nehru Nagar, buyers should expect to pay a stamp duty of 7% on the guideline value and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Nehru Nagar is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find more information about your SRO through the provided link.