Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,100 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu village, there are 115 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,100 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Nehru Street's 2024 figure below this median.

• Nethaji Street: Rs 1,200 per sq.ft (2024)
• Navganesh Nagar: Rs 2,400 per sq.ft (2024)
• Nagathamman Koil Street Survey No.114/2A,2B,2C: Rs 4,478 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,200 per sq.ft (2024)
• Murugambedu Main Road: Rs 1,600 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can 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 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 Soorapattu

The guideline value plays a crucial role during the registration of property transactions in Soorapattu. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehru Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class II Type - II according to the guideline value register.

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

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

How is stamp duty calculated for properties in Nehru Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000, leading to a stamp duty of Rs 84,000.