Guideline Value for Nehru Street MGR Nagar Ist

Nehru Street MGR Nagar Ist guideline value

The current guideline value of Nehru Street MGR Nagar Ist 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 has changed

The guideline value for Nehru Street MGR Nagar Ist has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from Rs 1,500 per sq.ft in 2023. Prior to that, the value was Rs 1,005 per sq.ft in 2017, reflecting a substantial increase of 49% over the six years. In 2012, the value was Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the years 2002, 2003, and 2007 in the register 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, making Nehru Street MGR Nagar Ist's 2024 figure equal to the median.

• Nehru Street (MGR Nagar Ist Kulakkarai St): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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 important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nehru Street MGR Nagar Ist?

The Sub Registrar Office that covers Nehru Street MGR Nagar Ist 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 in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This standardization helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street MGR Nagar Ist?

The current guideline value of Nehru Street MGR Nagar Ist is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 10%. The most significant change occurred between 2017 and 2023, where the value rose by 49%.

What is the land classification for Nehru Street MGR Nagar Ist?

The land classification for Nehru Street MGR Nagar Ist is Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Nehru Street MGR Nagar Ist?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Nehru Street MGR Nagar Ist. It is located at No.26, Mes Road, East Tambaram, Chennai-600059.