Guideline Value for Nehru Street (V.L.Puram)

Nehru Street (V.L.Puram) guideline value

The current guideline value of Nehru Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Nehru Street (V.L.Puram) has changed

Over the years, the guideline value of Nehru Street (V.L.Puram) has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. The 2023 revision then increased the value to Rs 2,200 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,400 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 9% in the guideline value.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Nehru Street (V.L.Puram) above this median with its current rate of Rs 2,400 per sq.ft.

• Nehru Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Nelson Street: Rs 1,600 per sq.ft (2024)
• Nesamani Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Nehru Salai (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Nethaji Street: Rs 1,600 per sq.ft (2024)
• New Anna Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street (V.L.Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nehru Street (V.L.Puram)?

The Sub Registrar Office that covers Nehru Street (V.L.Puram) 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 information.

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

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

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Street (V.L.Puram)?

The current guideline value of Nehru Street (V.L.Puram) is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 in 2023, and finally to Rs 2,400 in 2024.

What is the land classification of Nehru Street (V.L.Puram)?

Nehru Street (V.L.Puram) is classified as Residential Special Type - I under the Ambattur SRO.

How do I calculate the stamp duty and registration fee for property in Nehru Street (V.L.Puram)?

To calculate the stamp duty and registration fee, you can use the guideline value. For example, a 1,000 sq.ft plot at Rs 2,400 per sq.ft results in a guideline value of Rs 24,00,000, with a stamp duty of Rs 1,68,000 and a registration fee of Rs 48,000.

Where is the Sub Registrar Office for Nehru Street (V.L.Puram)?

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