Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Kodungaiyur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Nehru Street has changed

In the 2012 revision, the guideline value for Nehru Street was Rs 2,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

The overall change from the 2012 to 2024 revisions reflects an 8% increase, with the 2024 figure aligning with the median guideline value for Kodungaiyur streets. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2017 for Nehru Street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current value for Nehru Street.

• Nethaji Nagar: Rs 2,700 per sq.ft (2024)
• Navaraj Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Navaraji Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Narayanasamy Thottam 2nd Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nehru Street?

The Madhavaram Sub Registrar Office covers Nehru Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees applicable during the buying or selling process, ensuring that the transaction is recorded accurately in official registers.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the necessary fees. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value of Nehru Street changed over the years?

The guideline value for Nehru Street was Rs 2,500 per sq.ft in 2012 and remained the same until 2023. In 2024, it increased to Rs 2,700 per sq.ft, marking an overall increase of 8% from 2012 to 2024.

What are the guideline values for other streets in Kodungaiyur?

Other streets in Kodungaiyur also have a guideline value of Rs 2,700 per sq.ft for 2024, which includes Nethaji Nagar, Navaraj Street (Krishnamoorthy Nagar), Navaraji Street, and several others.

How is stamp duty calculated for property in Nehru Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, with an additional registration fee of Rs 54,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area, including Nehru Street.