Guideline Value for Nehru Nagar

Nehru Nagar guideline value

The current guideline value of Nehru Nagar, located in Kathivakkam village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Nehru Nagar has changed

The guideline value for Nehru Nagar has seen significant changes over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. This was a substantial rise of 233%. However, in 2017, the value decreased to Rs 670 per sq.ft, marking a decline of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with a median value of Rs 1,001 per sq.ft. Nehru Nagar's 2024 guideline value of Rs 1,100 per sq.ft is above this median.

• Nettukkuppam: Rs 1,000 per sq.ft (2024)
• Mugathuvara kuppam: Rs 1,000 per sq.ft (2024)
• Periyakuppam: Rs 1,001 per sq.ft (2024)
• Pillai Thottam: Rs 1,001 per sq.ft (2024)
• Ponga Nagar (Nehru Nagar): Rs 1,100 per sq.ft (2024)
• Porkaliyamman Koil Street: Rs 1,001 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Nagar?

The Sub Registrar Office that covers Nehru Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kathivakkam. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the registration process reflects the official value of the property, safeguarding both the buyer's and seller's interests during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nagar?

The current guideline value of Nehru Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Nehru Nagar?

Nehru Nagar falls under the Residential Special Type - I land classification.

Where can I find the registration office for Nehru Nagar?

The registration office for Nehru Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 77,000.