Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Thandalam village, under the Pammal SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. The 2017 revision set the value at Rs 737 per sq.ft. This was followed by a significant increase in the 2023 revision, which raised the value to Rs 1,100 per sq.ft, marking a 49% increase from 2017. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 1,210 per sq.ft.

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

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,210 per sq.ft, which matches the guideline value of Nehru Street.

• Melma Nagar: Rs 1,210 per sq.ft (2024)
• Periyar Cross Street: Rs 1,210 per sq.ft (2024)
• Mariamman Nagar: Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 6): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 5): Rs 990 per sq.ft (2024)
• Mariamman Koil Street (ward 2): Rs 990 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is 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 Thandalam

The guideline value is a crucial factor in property transactions in Thandalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on Nehru Street?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700 and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which office handles property registrations for Nehru Street?

The Pammal Sub Registrar Office is responsible for property registrations on Nehru Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Nehru Street?

Nehru Street is classified under Residential Class I Type - I, indicating its use for residential purposes.