Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in 44.Ayanambakkam village, under the Konnur Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - I.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Notably, the overall change from the 2017 revision to the 2024 revision is a significant 64% increase.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Nehru Street. The changes from 2017 to 2023 reflect a 49% increase, showcasing a steady rise in the guideline value over the years.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Nehru Street's 2024 figure below that median.

• New Anna Nagar: Rs 1,700 per sq.ft (2024)
• New Century Nagar: Rs 1,400 per sq.ft (2024)
• Natesan Nagar: Rs 2,750 per sq.ft (2024)
• NolamburRoad: Rs 2,200 per sq.ft (2024)
• Nalliappan Nagar: Rs 880 per sq.ft (2024)
• Nova Aradiya Nagar: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehru Street?

Nehru Street falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor during property registration in 44.Ayanambakkam. It helps determine the stamp duty and registration fees that need to be paid at the time of transaction. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with property transfer.

When purchasing or selling property, it is essential to consider the guideline value as it serves as a benchmark for the transaction. This value is used to calculate the applicable fees, ensuring compliance with local regulations 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over these years.

What is the land classification for Nehru Street?

Nehru Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the 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 property valued at Rs 11,00,000, the stamp duty at 7% would be Rs 77,000.