Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, with a land classification of Residential Special Type - II.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 341 per sq.ft. This increased to Rs 378 per sq.ft in 2003, marking an 11% rise. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, which was a 98% increase from the previous revision. By 2012, the guideline value was Rs 3,200 per sq.ft, reflecting a substantial increase of 327% from 2007. However, this figure dropped by 33% to Rs 2,144 per sq.ft in 2017. The value then rose again to Rs 3,200 per sq.ft in 2023, before reaching the current rate of Rs 3,520 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 932%. Notably, there are no records of revisions for this street in the years not mentioned in the register.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Nehru Street's 2024 guideline value is below this median.

• Nethaji Nagar: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 3rd Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 4th Street: Rs 3,520 per sq.ft (2024)
• Nethaji Nagar 5th Street: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total to Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 932% over this period.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Special Type - II under the Kunrathur SRO.

What are the other streets in Porur with the same guideline value?

Other streets in Porur with a guideline value of Rs 3,520 per sq.ft in 2024 include Nethaji Nagar and its 1st to 5th Streets.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.