Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Porunthavakkam village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 495 per sq.ft, which increased to Rs 610 per sq.ft in 2007. The next revision in 2012 saw a significant rise to Rs 2,200 per sq.ft, but this was followed by a decrease to Rs 1,474 per sq.ft in 2017. The value then increased to Rs 2,200 per sq.ft in 2023, before reaching the current figure of Rs 2,420 per sq.ft in 2024, marking a 10% increase from the previous year.

Notably, the register does not have a figure for Nehru Street for the year 2002. The overall increase from the 2003 revision to the current 2024 value is 389%.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is equal to the current guideline value of Nehru Street.

• Park Square Street: Rs 1,760 per sq.ft (2024)
• Mahalingam Road / STREET: Rs 2,750 per sq.ft (2024)
• Madipakkam Main Road: Rs 4,950 per sq.ft (2024)
• Sabari Salai: Rs 3,300 per sq.ft (2024)
• Kandaswamy Road: Rs 2,420 per sq.ft (2024)
• Kamaraj Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total fees together to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Porunthavakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value. This ensures compliance with local regulations and helps avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value of Nehru Street changed over the years?

The guideline value has changed from Rs 495 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and subsequent increases.

What is the median guideline value for streets in Porunthavakkam?

The median guideline value for streets in Porunthavakkam is Rs 2,420 per sq.ft, which is the same as the current value for Nehru Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,69,400, and the registration fee is Rs 48,400, totaling Rs 2,17,800.

Which office handles registrations for Nehru Street?

The Pallavaram Sub Registrar Office handles registrations for Nehru Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.