Guideline Value for Nehru Street

Nehru Street guideline value

The current guideline value of Nehru Street in Panchetty village, under the Redhills SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I 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 2007 revision, the value was set at Rs 700 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2012 revision, marking a 43% rise. However, the value decreased to Rs 670 per sq.ft in the 2017 revision, a decline of 33%. The value remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 43%. Notably, there are no figures available for Nehru Street in the 2002 and 2003 revisions.

Guideline values in Panchetty

In Panchetty village, there are 46 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, which is the same as the guideline value for Nehru Street.

• Neudvarambakkam Salai: Rs 1,000 per sq.ft (2024)
• Mettu Street: Rs 1,000 per sq.ft (2024)
• Perumal Koil Street: Rs 1,000 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 400 per sq.ft (2024)
• Mariyamman Koil Street: Rs 1,000 per sq.ft (2024)
• Ponneri Salai: Rs 400 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 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total cost for these fees to Rs 90,000. 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?

The Sub Registrar Office that covers Nehru Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Panchetty. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When a buyer or seller enters into a transaction, the guideline value is used to ensure that the fees are calculated accurately. This helps maintain transparency and consistency 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 1,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and remained at Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Nehru Street?

Nehru Street is classified as Commercial Class I Type - I, which indicates its use for commercial purposes.

Where can I find the registration office for Nehru Street?

The registration office for Nehru Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Nehru Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 70,000.