Guideline Value for Nehru Street Sivasankaran Nagar

Nehru Street Sivasankaran Nagar guideline value

The current guideline value of Nehru Street Sivasankaran Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class I Type - I.

How the guideline value of Nehru Street Sivasankaran Nagar has changed

The guideline value for Nehru Street Sivasankaran Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 has set the value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO with a guideline value range from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Nehru Street Sivasankaran Nagar's 2024 figure above this median.

• Nehru Street Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Nehru Street (6): Rs 1,650 per sq.ft (2024)
• Nehru Street (3): Rs 1,650 per sq.ft (2024)
• Nehru Street (15): Rs 1,650 per sq.ft (2024)
• Nehru Street (11): Rs 1,650 per sq.ft (2024)
• Nehru Nagar M.G.R. Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street Sivasankaran Nagar

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, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Nehru Street Sivasankaran Nagar?

The Sub Registrar Office that covers Nehru Street Sivasankaran Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay the stamp duty calculated on the higher of the guideline value or the sale price. This ensures that the transaction is recorded accurately and that the government receives the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street Sivasankaran Nagar?

The current guideline value of Nehru Street Sivasankaran Nagar 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 increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the median guideline value in Pozhichalur?

The median guideline value for the 299 streets in Pozhichalur is Rs 1,320 per sq.ft, with Nehru Street Sivasankaran Nagar's 2024 figure being above this median.

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

For a property valued at Rs 16,50,000, the stamp duty is Rs 1,15,500, and the registration fee is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Pammal Sub Registrar Office covers Nehru Street Sivasankaran Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.