Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Maathoor village is Rs 500 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - III.

How the guideline value of Nehru Street has changed

Over the years, the guideline value for Nehru Street has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision marked a significant increase to Rs 335 per sq.ft, reflecting a 49% rise from the previous figure. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%, resulting in an overall change of 0% from 2012 to 2024. The current guideline value of Rs 500 per sq.ft remains consistent with the previous revisions of 2023 and 2012.

Guideline values in Maathoor

In Maathoor, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,687 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, which is equal to the current value of Nehru Street.

• Mungillamman Kovil Street: Rs 500 per sq.ft (2024)
• Mungilan Kovil Main Road: Rs 500 per sq.ft (2024)
• Manimegalai Street: Rs 500 per sq.ft (2024)
• Priya Nagar: Rs 300 per sq.ft (2024)
• K.G.V Nagar: Rs 250 per sq.ft (2024)
• Kattabomman street: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Maathoor, as it determines the stamp duty and registration fees applicable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

When purchasing property, the guideline value serves as a reference point for the transaction value. It is essential to be aware of the current guideline value to accurately calculate the necessary fees and ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase to Rs 335 per sq.ft in 2017 and then remaining unchanged through 2023 to 2024.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Special Type - III, according to the local guidelines.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the 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 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 35,000 based on the guideline value of Rs 5,00,000.