Guideline Value for Nehru Street

Nehru Street guideline value

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

How the guideline value of Nehru Street has changed

In the 2017 revision, the guideline value was Rs 201 per sq.ft. It remained unchanged at Rs 300 per sq.ft in the 2023 revision and continues at the same rate in the 2024 revision, reflecting a 49% increase from the 2017 figure to the 2024 figure. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 49% increase, but the guideline value remained stable from 2023 to 2024, showing no change. Overall, from 2017 to 2024, the increase is also 49%, indicating a consistent valuation since 2023.

Guideline values in Mevaloorkuppam B

Mevaloorkuppam B has 84 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median guideline value for the village is Rs 400 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Nehru Cross Street: Rs 100 per sq.ft (2024)
• Nayappakkam Salai: Rs 500 per sq.ft (2024)
• Nadu Street: Rs 100 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 500 per sq.ft (2024)
• Moorthiyar Nagar: Rs 100 per sq.ft (2024)
• Pallikuda Street: Rs 400 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 300 per sq.ft, the 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, totaling Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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 further assistance.

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

The guideline value is an essential factor in property transactions in Mevaloorkuppam B, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are 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 in the area.

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 increased from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in both the 2023 and 2024 revisions, marking a 49% increase overall from 2017 to 2024.

What is the median guideline value for streets in Mevaloorkuppam B?

The median guideline value for streets in Mevaloorkuppam B is Rs 400 per sq.ft, with Nehru Street's 2024 figure being below this median.

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

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

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.