Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Madambakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an increase from the 2012 revision of Rs 1,200 per sq.ft, marking an 8% rise. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Prior to the 2012 revision, there were no recorded figures for Nehru Street in the years 2002, 2003, 2007, and 2017. The 2012 revision was the first time a value was assigned, and it remained unchanged until the 2024 update.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. Nehru Street's 2024 value of Rs 1,300 per sq.ft is below this median.

• Neval Quarters 1st Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 2nd Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 2nd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Main Road: Rs 1,300 per sq.ft (2024)
• Neval Quarters 3rd Street: Rs 1,300 per sq.ft (2024)
• Neval Quarters 4th Street: Rs 1,300 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 1,300 per sq.ft, the total 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, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration of property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in planning the financial aspects of property dealings in the area.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Street was Rs 1,200 per sq.ft in 2012 and increased to Rs 1,300 per sq.ft in 2024, marking an 8% rise. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class II Type - II under the Selaiyur SRO.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nehru Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.