Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - II.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft, which increased to Rs 193 per sq.ft in 2003. Following this, the value surged to Rs 1,000 per sq.ft in 2007, marking a substantial increase of 418%. In 2012, the value was Rs 2,000 per sq.ft, but it dropped by 33% to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,179%. There are no figures available for the revisions in years other than those specified, ensuring that all changes are accounted for accurately.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Nethaji Street: Rs 2,200 per sq.ft (2024)
• Navalar Street: Rs 2,200 per sq.ft (2024)
• Narmadha Nagar: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 3rd Street: Rs 2,800 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Therefore, the total cost for these fees would be Rs 1,98,000. It is important to note that 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?

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. You can find your SRO for additional assistance.

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

The guideline value is a critical factor during property registration in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are essential components of the transaction process, and they are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, increasing from Rs 172 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1,179%.

What is the median guideline value in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft, which is higher than the current value of Nehru Street.

What are the stamp duty rates applicable in Nehru Street?

The stamp duty rate applicable in Nehru Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

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

The Alandur Sub Registrar Office covers Nehru Street and is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.