Guideline Value for Nehru Nedunchalai

Nehru Nedunchalai guideline value

The current guideline value of Nehru Nedunchalai is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and falls under the Commercial Class I Type - II land classification.

How the guideline value of Nehru Nedunchalai has changed

The guideline value for Nehru Nedunchalai has undergone several revisions over the years. The oldest recorded figure is from the 2012 revision, which was Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 2,700 per sq.ft in the 2023 revision, and further rose to Rs 2,970 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The jump from Rs 1,809 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2023 represents a substantial increase of 49%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Nehru Nedunchalai's 2024 figure is above this median, indicating a higher valuation compared to many other streets in the area.

• Nehru Street: Rs 2,970 per sq.ft (2024)
• Nethaji Nagar: Rs 2,310 per sq.ft (2024)
• Nethaji Street: Rs 2,640 per sq.ft (2024)
• Neuton Street: Rs 1,980 per sq.ft (2024)
• N.G.O.Colony: Rs 3,960 per sq.ft (2024)
• Nammaalvar Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Nedunchalai

For a 1,000 sq.ft plot at the current rate of Rs 2,970 per sq.ft, the guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nehru Nedunchalai?

The Sub Registrar Office that covers Nehru Nedunchalai is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. 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, and the higher of the two is used to calculate the applicable duties and fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Nehru Nedunchalai?

The current guideline value of Nehru Nedunchalai is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 in 2023, and finally to Rs 2,970 in 2024.

What is the land classification for Nehru Nedunchalai?

Nehru Nedunchalai is classified as Commercial Class I Type - II under the land classification system.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 at a rate of 7%.