Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2003. The value continued to rise, reaching Rs 1,000 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The guideline value then increased to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,800 per sq.ft in 2024.

Between the revisions, notable changes include a 12% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a 150% increase from 2007 to 2012. The overall increase from 2002 to 2024 stands at an impressive 1661%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Nehru Street.

• Nethaji Street: Rs 2,800 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 2,200 per sq.ft (2024)
• Pandiyan Street: Rs 2,800 per sq.ft (2024)
• Peeli Amman Koil Street: Rs 3,300 per sq.ft (2024)
• M.G.R. Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Patwari lane: Rs 2,200 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees together Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair value, which is important for both the buyer and seller. It is advisable to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class II Type - I under the current guidelines.

What are the stamp duty and registration fees for property in Nehru Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 2,52,000.

Where is the Sub Registrar Office for Nehru Street located?

The Adayar Sub Registrar Office, which covers Nehru Street, is located at 51, Kamaraj Avenue, second Street, Adyar, Chennai-20.