Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Kolapakkam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has further increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Nehru Street in the years 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Narayanan Nagar (ward 6): Rs 2,750 per sq.ft (2024)
• Namadhu Nagar: Rs 2,200 per sq.ft (2024)
• Nutech Inscape: Rs 3,080 per sq.ft (2024)
• Ottravadai Street (ward 6): Rs 1,650 per sq.ft (2024)
• Ottravadai Street (ward 7): Rs 1,650 per sq.ft (2024)
• Padmavathi Nagar: Rs 2,750 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in accordance with government regulations.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that are payable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, to ensure compliance with local laws.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is a total increase of 64% over this period.

What is the stamp duty rate in Kolapakkam?

The stamp duty rate in Kolapakkam is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nehru Street?

The Sub Registrar Office covering Nehru Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the guideline values of other streets in Kolapakkam?

Other streets in Kolapakkam have varying guideline values, ranging from Rs 1,650 to Rs 6,850 per sq.ft, with the median value being Rs 2,200 per sq.ft.