Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Mevaloorkuppam village, under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Nehru Street has changed

Over the years, the guideline value of Nehru Street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, the value increased by 49% to Rs 300 per sq.ft, and there was no change from 2023 to the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is 0%, indicating stability in the guideline value over this period. The 2017 revision marked a significant increase compared to the previous years, but the latest revisions have maintained the same rate.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Nehru Street's 2024 figure of Rs 300 per sq.ft is below this median.

• Nehru Cross Street: Rs 200 per sq.ft (2024)
• Nadu Street: Rs 200 per sq.ft (2024)
• Moorthiyar Nagar: Rs 200 per sq.ft (2024)
• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)
• Mevaloorkuppam Nedunsalai: Rs 400 per sq.ft (2024)
• Mettu Street: Rs 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 guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It's important 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 covering 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 Mevaloorkuppam

The guideline value is a critical factor in the registration process when buying or selling property in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to assess the applicable duties, ensuring that the government receives the correct revenue based on the property's value as determined by the register. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from the 2012 revision through the 2024 revision, with a notable increase of 49% from 2017 to 2023.

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

For a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft, the total fees would be Rs 27,000, which includes stamp duty and registration fees.

Which office handles registrations for Nehru Street?

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

What is the significance of the guideline value during property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct revenue is collected based on the property's assessed value.