Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Karasangal village, under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Nehru Street has changed

Looking at the revisions, the guideline value for Nehru Street has seen several changes over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision marked a significant increase to Rs 167 per sq.ft, reflecting a 50% rise from the previous figure. However, there are no recorded figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 250 per sq.ft. The most recent revision in 2024 did not change the value from the previous year, maintaining the Rs 250 per sq.ft rate.

Guideline values in Karasangal

In Karasangal, there are 59 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 3,550 per sq.ft, with a median value of Rs 402 per sq.ft. Nehru Street's 2024 figure is below this median.

• Naveen Nagar: Rs 400 per sq.ft (2024)
• Nanbargal Nagar Extension: Rs 600 per sq.ft (2024)
• Nanbargal Nagar: Rs 600 per sq.ft (2024)
• Nanbargal Avenue Extension: Rs 600 per sq.ft (2024)
• Nanbargal Avenue: Rs 600 per sq.ft (2024)
• Nallatchi Amman Nagar: Rs 250 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 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by 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 Karasangal

The guideline value plays a crucial role during the registration of property transactions in Karasangal. It is used to determine the applicable stamp duty and registration fees, ensuring that these are calculated based on the official valuation of the property.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair assessment of the property's worth, which is essential for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nehru Street has remained stable at Rs 250 per sq.ft from 2012 to 2024, with a significant increase of 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

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

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

How is the stamp duty calculated for property in Nehru Street?

The stamp duty for property in Nehru Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 17,500.