Guideline Value for Nehru Street /Sholavaram Nagar

Nehru Street /Sholavaram Nagar guideline value

The current guideline value of Nehru Street /Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class II Type - II.

How the guideline value of Nehru Street /Sholavaram Nagar has changed

The guideline value for Nehru Street /Sholavaram Nagar has seen significant changes over the years. In 2002, the value was Rs 184 per sq.ft, which increased to Rs 208 per sq.ft in 2003, marking a rise of 13%. The value continued to rise to Rs 360 per sq.ft in 2007, reflecting a substantial increase of 73%. By 2017, the guideline value reached Rs 1,206 per sq.ft, which was a remarkable increase of 235%. The next revision in 2023 set the value at Rs 1,800 per sq.ft, showing a 49% increase from the previous revision. The latest revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, an increase of 10% from 2023.

It is important to note that there is no figure recorded for this street in the 2012 revision. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, which indicates that the 2024 figure for Nehru Street /Sholavaram Nagar is below the median.

• Nehru Street / Near Pammal Main Road: Rs 2,530 per sq.ft (2024)
• Nehru Salai/Nagelkeni: Rs 1,980 per sq.ft (2024)
• Nehru Salai/ Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar ,3rd Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar, 2nd Street: Rs 1,980 per sq.ft (2024)
• Nehru Nagar ,2nd Cross Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street /Sholavaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru Street /Sholavaram Nagar?

The Sub Registrar Office that covers Nehru Street /Sholavaram Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pammal

The guideline value plays a crucial role in property transactions in Pammal. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street /Sholavaram Nagar?

The current guideline value of Nehru Street /Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 976% over the years.

What is the median guideline value for streets in Pammal?

The median guideline value for the 926 streets in Pammal is Rs 2,090 per sq.ft, which means that Nehru Street /Sholavaram Nagar's 2024 value is below this median.

What are the stamp duty and registration fees for property in Nehru Street /Sholavaram Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration fee would be Rs 1,78,200.

Where is the Sub Registrar Office for Nehru Street /Sholavaram Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.