Guideline Value for Nehru Street(Senthil Nagar)

Nehru Street(Senthil Nagar) guideline value

The current guideline value of Nehru Street(Senthil Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

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

The guideline value for Nehru Street(Senthil Nagar) has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and further to Rs 2,700 per sq.ft in 2024. It is important to note that the register has no figures for this street in 2002 and 2003.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, it increased by 8%. The overall change from 2007 to 2024 reflects a substantial increase of 350%, highlighting the significant growth in the guideline value over the years.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,400 per sq.ft, positioning Nehru Street(Senthil Nagar) above this median at Rs 2,700 per sq.ft.

• Nelson Mandaloo St.(srinagar colony): Rs 2,700 per sq.ft (2024)
• Nesamani Nadar Nagar: Rs 2,400 per sq.ft (2024)
• Nehru Noottrandu Street (Srinagar Colony): Rs 2,700 per sq.ft (2024)
• Nethaji Nagar: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar 1st Main Road: Rs 2,400 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office covering Nehru Street(Senthil Nagar) 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 details.

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

The guideline value is a crucial factor when registering property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property, while sellers can use it to set a competitive price.

Frequently asked questions

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

The current guideline value of Nehru Street(Senthil Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for this street?

The guideline value for Nehru Street(Senthil Nagar) has changed from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

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

Nehru Street(Senthil Nagar) is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nehru Street(Senthil Nagar)?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable, contributing to the overall cost of property registration.