Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft, indicating a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Thus, the guideline value remained unchanged from 2017 until the latest revision in 2024.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Nehru Street's 2024 figure at the median level.

• Nazareth Nagar: Rs 1,200 per sq.ft (2024)
• Nethaji Nagar: Rs 1,200 per sq.ft (2024)
• Navaneetham Nagar: Rs 700 per sq.ft (2024)
• New Ramanujar Nagar: Rs 1,800 per sq.ft (2024)
• Nanthagopal Reddy Avenue: Rs 1,200 per sq.ft (2024)
• N.G.O. colony: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 Sriperumbudur A

The guideline value is a crucial factor in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both 2023 and 2024, marking a 49% increase over the period.

What are the other streets with guideline values in Sriperumbudur A?

In addition to Nehru Street, other streets in Sriperumbudur A include Nazareth Nagar, Nethaji Nagar, Navaneetham Nagar, New Ramanujar Nagar, Nanthagopal Reddy Avenue, and N.G.O. colony, each with varying guideline values.

How is stamp duty calculated for properties on Nehru Street?

Stamp duty for properties on Nehru Street is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 7,00,000, the stamp duty would be calculated at 7% of that amount.

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. You can also find more information online.