Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Menambedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Nehru Street has changed

Over the years, the guideline value of Nehru Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has raised it to Rs 1,300 per sq.ft. The changes between these revisions are notable: from 2017 to 2023, there was a significant increase of 49%, while the change from 2023 to 2024 is an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that the guideline value register does not have figures for the years 2002, 2003, and 2007 for Nehru Street. Thus, the first recorded value was in 2012, and subsequent revisions have reflected the changes mentioned above.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, placing Nehru Street's 2024 value above this median.

• Netaji Street: Rs 1,300 per sq.ft (2024)
• New Building Colony: Rs 1,300 per sq.ft (2024)
• Narayanan Street: Rs 1,300 per sq.ft (2024)
• Narayanan Nagar - 1st Street: Rs 1,002 per sq.ft (2024)
• Narayanan Nagar: Rs 1,002 per sq.ft (2024)
• Narasiman Street: Rs 1,001 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 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, calculated at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller registers a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction adheres to the legal requirements set by the state authorities.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the median guideline value in Menambedu?

The median guideline value for the 171 streets in Menambedu is Rs 1,003 per sq.ft, which is lower than the current value of Nehru Street.

What are the stamp duty rates for property in Nehru Street?

The stamp duty for property in Nehru Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Nehru Street?

The Ambattur Sub Registrar Office handles the registration for Nehru Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.