Guideline Value for Nehru Street(Moopanar Nagar)

Nehru Street(Moopanar Nagar) guideline value

The current guideline value of Nehru Street (Moopanar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehru Street(Moopanar Nagar) has changed

Looking at the revisions, the guideline value for Nehru Street (Moopanar Nagar) has undergone several changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, reflecting a growth of 49%. The latest revision in 2024 has further increased the value to Rs 1,300 per sq.ft, representing an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Nehru Street (Moopanar Nagar) in the guideline value register.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Nehru Street (Moopanar Nagar) is below this median at Rs 1,300 per sq.ft.

• Nehuru Nagar 10th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 11th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 12th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 13th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 14th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 1st street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street(Moopanar Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Street(Moopanar Nagar)?

The Sub Registrar Office that covers Nehru Street (Moopanar Nagar) is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

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 appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Street (Moopanar Nagar)?

The current guideline value of Nehru Street (Moopanar Nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for Nehru Street (Moopanar Nagar)?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Nehru Street (Moopanar Nagar)?

The land classification for Nehru Street (Moopanar Nagar) is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in Nehru Street (Moopanar Nagar)?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Nehru Street (Moopanar Nagar)?

The Royapuram Sub Registrar Office covers Nehru Street (Moopanar Nagar) and is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.