Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Mudichur village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Nehru Street has changed

The guideline value for Nehru Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,100 per sq.ft. This figure changed in the 2017 revision to Rs 737 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw an increase to Rs 1,100 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for Nehru Street in the 2002, 2003, and 2007 revisions. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Nehru Street's 2024 figure is below this median.

• Neminathan Nagar: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nehru Colony: Rs 1,210 per sq.ft (2024)
• Nethaji Street: Rs 1,210 per sq.ft (2024)
• Navab Abibulla Nagar: Rs 3,630 per sq.ft (2024)
• Nadarajan Street: Rs 1,210 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, resulting in a total of Rs 1,08,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nehru Street?

The Sub Registrar Office that covers Nehru Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial figure used during the registration of property transactions in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the correct fees are applied. This value helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nehru Street?

The current guideline value of Nehru Street is Rs 1,210 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 back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification of Nehru Street?

Nehru Street is classified as Residential Class II Type - I under the Padappai SRO.

Where can I find the registration office for Nehru Street?

The registration office for Nehru Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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 of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 84,700.