Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Nemili 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

The guideline value for Nehru Street has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a reduction of 33%. The value then increased by 50% to Rs 250 per sq.ft in the 2023 revision, and it has remained the same in the 2024 revision, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline value have been observed from the 2012 revision onwards, with the overall change from 2012 to 2024 being 0%.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median guideline value is Rs 250 per sq.ft, which is equal to the current guideline value for Nehru Street.

• Nehru Nagar: Rs 250 per sq.ft (2024)
• Nemili Park: Rs 250 per sq.ft (2024)
• Nemili Sri Lakshmi Town: Rs 250 per sq.ft (2024)
• Nadu Street: Rs 210 per sq.ft (2024)
• Murugan Koil Street: Rs 210 per sq.ft (2024)
• Mookambigai 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, resulting in a total of 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 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemili. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair rate as per the local regulations.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value. This ensures that both the buyer and seller are aware of the financial implications of the transaction, as these fees are based on the higher of the guideline value or the sale price.

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 has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024, showing an overall change of 0% from 2012 to 2024.

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 is the Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total fees would amount to Rs 22,500.