Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Pennaloor village is Rs 100 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Nehru Street has changed

Looking at the revisions, the guideline value for Nehru Street was Rs 100 per sq.ft in both the 2023 and 2024 revisions. Prior to that, in the 2017 revision, the value was Rs 67 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. In the 2012 revision, the value was Rs 100 per sq.ft, which indicates a decrease of 33% when compared to the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged at Rs 100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pennaloor

In Pennaloor, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,200 per sq.ft, with a median value of Rs 200 per sq.ft. Nehru Street's 2024 figure is below this median.

• National Highway: Rs 1,200 per sq.ft (2024)
• Pallikuda Street: Rs 200 per sq.ft (2024)
• Palvadi Street: Rs 200 per sq.ft (2024)
• MGR street: Rs 200 per sq.ft (2024)
• M.G.R Nagar: Rs 100 per sq.ft (2024)
• Perumal Nagar: 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, making the total Rs 9,000. It is 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 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 Pennaloor

The guideline value is an essential factor in property transactions, as it determines the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value serves as a baseline for calculating the necessary fees. It is crucial for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with significant increases from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2023 and 2024. However, it was Rs 100 per sq.ft in the 2012 revision, showing fluctuations in the earlier years.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class IV Type - I under the guideline value register.

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

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

How is stamp duty calculated for properties in Nehru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at a rate of 7%.