Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street, located in Thiruneermalai village under the Pammal SRO, is Rs 2,420 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Nehru Street has changed

The guideline value of Nehru Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was a rise of 12%. The 2017 revision saw a substantial jump to Rs 1,474 per sq.ft, marking a 321% increase from the previous figure. The 2023 revision set the value at Rs 2,200 per sq.ft, a 49% increase from 2017. The current 2024 revision has further increased the guideline value to Rs 2,420 per sq.ft, reflecting a 10% rise from 2023.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 676%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, which is the same as the guideline value for Nehru Street.

• Nehru Street / Lakshmipuram: Rs 2,860 per sq.ft (2024)
• Neervannan Street 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Neervannan Street 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Neervannan Street: Rs 2,200 per sq.ft (2024)
• Neervannan 2nd Street: Rs 2,200 per sq.ft (2024)
• Neervannan 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the 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, resulting in a total of Rs 2,17,800. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

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 Thiruneermalai

The guideline value is an essential factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is 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.

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 much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of 676% from Rs 312 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024.

What is the land classification for Nehru Street?

Nehru Street falls under the Residential Class I Type - I land classification.

Where can I find the registration office for Nehru Street?

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

How is the stamp duty calculated for properties in Thiruneermalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 at a rate of 7%.