Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Irunkattukottai village, under the Sriperumpudur SRO, is Rs 600 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 seen several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft. However, this figure changed in the 2017 revision, where it decreased to Rs 402 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 600 per sq.ft, which remained unchanged in the 2024 revision, reflecting a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 600 per sq.ft.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for Nehru Street. The changes between the revisions indicate a significant increase of 49% from the 2017 revision to the 2023 revision, while the drop from 2012 to 2017 was 33%.

Guideline values in Irunkattukottai

In Irunkattukottai, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,250 per sq.ft, with a median value of Rs 400 per sq.ft. Nehru Street's current guideline value is above this median.

• Nemili Park: Rs 800 per sq.ft (2024)
• N.H.Salai: Rs 1,200 per sq.ft (2024)
• M.G.R.Street: Rs 250 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• Mecca Nagar: Rs 600 per sq.ft (2024)
• Marvel Shire Nagar: Rs 800 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value will influence the overall cost of the property transfer.

When a property is registered, the guideline value is compared with the sale price. The higher of the two amounts is used to calculate the applicable stamp duty, ensuring that the government receives the appropriate revenue from property transactions. Understanding the guideline value is essential for anyone looking to navigate the real estate market in Irunkattukottai.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023 and 2024, with a significant increase of 49% from 2017 to 2023.

What is the land classification of Nehru Street?

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

Where is the Sub Registrar Office for Nehru Street located?

The Sub Registrar Office for Nehru Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.