Guideline Value for Nehru Noottrandu Street (Srinagar Colony)

Nehru Noottrandu Street (Srinagar Colony) guideline value

The current guideline value for Nehru Noottrandu Street (Srinagar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Nehru Noottrandu Street (Srinagar Colony) has changed

The guideline value for Nehru Noottrandu Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the current 2024 revision reflects a further increase to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Nehru Noottrandu Street's 2024 value above this median.

• Nehru Street(Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Nelson Mandaloo St.(srinagar colony): Rs 2,700 per sq.ft (2024)
• Nesamani Nadar Nagar: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Noottrandu Street (Srinagar Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the 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 Noottrandu Street (Srinagar Colony)?

The Sub Registrar Office covering Nehru Noottrandu Street (Srinagar Colony) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. This ensures that both the buyer and seller comply with the regulations set forth by the registration authorities.

Frequently asked questions

What is the current guideline value for Nehru Noottrandu Street?

The current guideline value for Nehru Noottrandu Street (Srinagar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Nehru Noottrandu Street?

Nehru Noottrandu Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Ambattur Sub Registrar Office covers Nehru Noottrandu Street and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Thirumullaivoyal?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 27,00,000, the stamp duty at 7% would amount to Rs 1,89,000.