Guideline Value for Nehru St ( Ward No.9 )

Nehru St ( Ward No.9 ) guideline value

The current guideline value of Nehru St ( Ward No.9 ) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nehru St ( Ward No.9 ) has changed

The guideline value for Nehru St ( Ward No.9 ) has undergone significant changes over the years. In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The most recent 2024 revision shows an increase to Rs 2,200 per sq.ft, marking an increase of 83% from the 2012 figure. The register does not contain figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

This increase from Rs 1,200 to Rs 2,200 reflects the changes in the real estate landscape in the area. The current guideline value is now significantly higher than the previous revisions, indicating a notable shift in the valuation of properties in this locality.

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, with a median value of Rs 1,600 per sq.ft. Nehru St ( Ward No.9 ) has a guideline value above this median, reflecting its unique position within the locality.

• Nehru st ( Ward No.29 ): Rs 1,300 per sq.ft (2024)
• Nehru St ( Ward No.22 ): Rs 1,300 per sq.ft (2024)
• Nehru St ( Ward-09 ): Rs 2,200 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)
• Nellur High Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru St ( Ward No.9 )

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, bringing the total charges to 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nehru St ( Ward No.9 )?

The Sub Registrar Office that covers Nehru St ( Ward No.9 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately with the local authorities. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nehru St ( Ward No.9 )?

The current guideline value of Nehru St ( Ward No.9 ) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, which is an increase of 83%. The register does not have figures for the years 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Nehru St ( Ward No.9 )?

Nehru St ( Ward No.9 ) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on Nehru St ( Ward No.9 )?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 1,98,000 in charges.

Which Sub Registrar Office covers the registration for Nehru St ( Ward No.9 )?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers the registration for Nehru St ( Ward No.9 ).