Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Agaramthen village is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Nehru Street has changed

The guideline value of Nehru Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 750 per sq.ft. This was followed by a decrease to Rs 502 per sq.ft in 2017. However, the value rebounded to Rs 750 per sq.ft in the 2023 revision, and as of the 2024 revision, it stands at Rs 830 per sq.ft, marking an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a net increase of 11% in the guideline value of Nehru Street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to Nehru Street's current guideline value.

• Nesamani Street: Rs 830 per sq.ft (2024)
• Nethaji Street: Rs 830 per sq.ft (2024)
• Nalla Thanneer Kulam (South): Rs 830 per sq.ft (2024)
• Nalla Thanneer Kulam (North): Rs 830 per sq.ft (2024)
• Muthu Mariamman Street: Rs 830 per sq.ft (2024)
• Monisha Avenue: Rs 1,760 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 830 per sq.ft, the total guideline value would amount to Rs 8,30,000. The stamp duty, charged at 7%, would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total cost for these fees to Rs 74,700. 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?

The Sub Registrar Office that covers Nehru Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold or purchased, the guideline value is assessed to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency in real estate transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Nehru Street?

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

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

The Sub Registrar Office for Nehru Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

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 instance, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 58,100.