Guideline Value for Nehru street(Srinivasa nagar)

Nehru street(Srinivasa nagar) guideline value

The current guideline value of Nehru street (Srinivasa nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nehru street(Srinivasa nagar) has changed

The guideline value for Nehru street has seen several revisions over the years. In 2007, the value was Rs 611 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The value then rose significantly to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The revision from 2023 to 2024 reflects an 8% rise. Overall, from 2007 to 2024, the guideline value has increased by 113%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, which is the same as the 2024 figure for Nehru street (Srinivasa nagar).

• Nova Pavilio: Rs 2,200 per sq.ft (2024)
• Om sakthi street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• M.V.City: Rs 1,600 per sq.ft (2024)
• Padasalai street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Murugan Koil 2nd Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nehru street(Srinivasa nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehru street(Srinivasa nagar)?

The Sub Registrar Office that covers Nehru street (Srinivasa nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Nehru street(Srinivasa nagar)?

The current guideline value of Nehru street (Srinivasa nagar) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 611 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 113% from 2007 to 2024.

What is the land classification for Nehru street(Srinivasa nagar)?

Nehru street (Srinivasa nagar) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Nehru street(Srinivasa nagar)?

The Sub Registrar Office for Nehru street (Srinivasa nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ayappakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.