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 Thirukalukundrem A village, under the Thirukazhukundram 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 seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 700 per sq.ft, the same as in 2023. Prior to that, the 2017 revision recorded a value of Rs 469 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register.

From 2017 to 2023, there was a significant increase of 49%, and the overall change from 2017 to 2024 is also +49%. The guideline value has remained stable from 2023 to 2024, with no change observed.

Guideline values in Thirukalukundrem A

In Thirukalukundrem A, there are 149 streets under the Thirukazhukundram SRO that carry a guideline value for 2024, ranging from Rs 300 to Rs 1,344 per sq.ft. The median value is Rs 600 per sq.ft, making Nehru Street's 2024 figure above this median.

• Navalur: Rs 300 per sq.ft (2024)
• North Kulam Street: Rs 400 per sq.ft (2024)
• North Mada Veethi: Rs 1,005 per sq.ft (2024)
• North Mada Veethi Cross Street: Rs 800 per sq.ft (2024)
• North Sannathi Street: Rs 900 per sq.ft (2024)
• North Street Mangalam: Rs 600 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

Nehru Street falls under the jurisdiction of the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirukalukundrem A. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both the buyer and the seller. It helps in maintaining transparency and consistency in property dealings.

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 has the guideline value changed over the years?

The guideline value has remained stable at Rs 700 per sq.ft from 2023 to 2024. It increased by 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class III Type - I, indicating its designation for residential use.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, 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 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would be Rs 63,000.