Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Ramapuram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision. The changes from 2012 to 2024 reflect an overall increase of 10%.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 10%. Notably, there are no figures available for Nehru Street in the revisions for 2002, 2003, and 2007.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, placing Nehru Street's 2024 figure above this median.

• Nehru Nagar: Rs 4,400 per sq.ft (2024)
• Nethaji Nagar: Rs 3,100 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Nethaji Nagar 2nd Lane: Rs 3,100 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Nethaji Nagar Main Road: Rs 3,100 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehru Street?

Nehru Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 10%, moving from Rs 4,000 per sq.ft to Rs 4,400 per sq.ft in 2024.

What was the guideline value in 2017?

In 2017, the guideline value for Nehru Street was Rs 2,680 per sq.ft, which was a decrease from Rs 4,000 per sq.ft in 2012.

Which Sub Registrar Office handles registrations for Nehru Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Nehru Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for property in Nehru Street?

Stamp duty for property in Nehru Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 44,00,000, leading to a stamp duty of Rs 3,08,000.