Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Thalakanancherry village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class II Type - II.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by another rise to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for Nehru Street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Nehru Street's 2024 figure below that median.

• Nehru High Road Main: Rs 2,800 per sq.ft (2024)
• Nethaji Street: Rs 2,800 per sq.ft (2024)
• New Vinayagar Street: Rs 4,400 per sq.ft (2024)
• N G O Colony 1st Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Nanganallur Co-operative Housing Society Colony 6th Main Road: Rs 5,000 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 2,800 per sq.ft, the guideline value amounts to 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 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 use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Thalakanancherry. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is set by the government and can vary based on the location and type of property.

When a property is sold, the guideline value serves as a benchmark for calculating the necessary fees. It is crucial to ensure that the transaction adheres to these values to avoid any legal complications 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 from Rs 700 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class II Type - II, which indicates its suitability for residential development.