Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has undergone significant changes over the years. The 2012 revision set the value at Rs 1,500 per sq.ft. In the latest 2024 revision, the guideline value increased to Rs 2,200 per sq.ft, marking a change of 47% from the 2012 figure.

There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions noted are from 2012 to 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Nehru Nagar's 2024 figure above that median.

• Nehruji Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Nehru Nagar (Ward-30): Rs 2,200 per sq.ft (2024)
• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward-09): Rs 2,200 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. 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 more information.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the financial obligations associated with the transaction, ensuring that both parties are aware of the official valuation of the property.

It is essential for buyers and sellers to be familiar with the guideline value as it directly affects the costs incurred during the registration process. Accurate knowledge of the guideline value helps in making informed decisions regarding property transactions.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,500 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a change of 47%.

Are there any years without guideline value figures for Nehru Nagar?

Yes, there are no figures available for the years 2023, 2017, 2007, 2003, and 2002 in the register for Nehru Nagar.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft, and Nehru Nagar's 2024 figure is above this median.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by following the link provided.