Guideline Value for Nehru Street, Kalpalayam (Ward-29)

Nehru Street, Kalpalayam (Ward-29) guideline value

The current guideline value of Nehru Street, Kalpalayam (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Nehru Street, Kalpalayam (Ward-29) has changed

The guideline value for Nehru Street, Kalpalayam was revised in 2012 to Rs 1,200 per sq.ft. The most recent revision in 2024 increased this value to Rs 1,300 per sq.ft, reflecting a change of +8% from the 2012 figure. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

From 2012 to 2024, the guideline value saw an increase, indicating adjustments made to align with current market conditions. The absence of figures for the intervening years suggests that no changes were recorded for this street during those periods.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as of 2024, with a median value of Rs 1,600 per sq.ft. Nehru Street, Kalpalayam's 2024 figure is below this median.

• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward-09): Rs 2,200 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)
• Nellur High Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street, Kalpalayam (Ward-29)

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Street, Kalpalayam (Ward-29)?

The Sub Registrar Office that covers Nehru Street, Kalpalayam (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It determines the minimum value at which a 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 serves as a benchmark for calculating the costs involved in the registration process. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the overall expenses incurred during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Street, Kalpalayam (Ward-29)?

The current guideline value of Nehru Street, Kalpalayam (Ward-29) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an increase of +8%.

What is the land classification of Nehru Street, Kalpalayam (Ward-29)?

Nehru Street, Kalpalayam (Ward-29) is classified as Residential Class III Type - I.

Where can I find the registration office for Nehru Street, Kalpalayam (Ward-29)?

The registration office for Nehru Street, Kalpalayam (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.