Guideline Value for Nehru Street (MGR Nagar Ist Kulakkarai St)

Nehru Street (MGR Nagar Ist Kulakkarai St) guideline value

The current guideline value for Nehru Street (MGR Nagar Ist Kulakkarai St) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nehru Street (MGR Nagar Ist Kulakkarai St) has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current figure for Nehru Street (MGR Nagar Ist Kulakkarai St).

• Nehru Street MGR Nagar Ist: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Nelson Mandela Street: Rs 1,650 per sq.ft (2024)
• Neru street (M.G.R Nagar 1st kulakkarai street varai): Rs 1,100 per sq.ft (2024)
• Nethaji subash santhiraposh street: Rs 1,100 per sq.ft (2024)
• Natarajan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street (MGR Nagar Ist Kulakkarai St)

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street (MGR Nagar Ist Kulakkarai St)?

The Sub Registrar Office that covers Nehru Street (MGR Nagar Ist Kulakkarai St) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value serves as a benchmark for calculating the applicable charges. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value for Nehru Street (MGR Nagar Ist Kulakkarai St)?

The current guideline value for Nehru Street (MGR Nagar Ist Kulakkarai St) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Nehru Street (MGR Nagar Ist Kulakkarai St)?

The land classification for Nehru Street (MGR Nagar Ist Kulakkarai St) is Residential Class I Type - III.

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

The Sub Registrar Office covering Nehru Street (MGR Nagar Ist Kulakkarai St) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.