Guideline Value for Nehruji Street

Nehruji Street guideline value

The current guideline value of Nehruji Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehruji Street has changed

Over the years, the guideline value of Nehruji Street has seen significant changes. In 2002, the guideline value was Rs 399 per sq.ft, which increased to Rs 438 per sq.ft in 2003. Following this, there was a substantial rise to Rs 1,200 per sq.ft in 2007, and then it further increased to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft in 2024.

The changes between the revisions show a +10% increase from 2002 to 2003, a +174% increase from 2003 to 2007, a +192% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and a +9% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +852%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this area is Rs 7,100 per sq.ft, placing Nehruji Street's 2024 figure below that median.

• Nehruji Nagar: Rs 3,800 per sq.ft (2024)
• Navarathina Apartments: Rs 7,100 per sq.ft (2024)
• New Kuberaganapathi Street: Rs 3,300 per sq.ft (2024)
• New Mariamman Koil Street: Rs 3,300 per sq.ft (2024)
• Nakkeran Salai: Rs 7,100 per sq.ft (2024)
• Nolambur Main Road: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nehruji Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehruji Street?

The Sub Registrar Office that covers Nehruji Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property registration in Mugappair. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in accordance with government regulations.

It is essential for buyers and sellers to be aware of the guideline value to understand the financial implications of their property transactions. This value is updated periodically, reflecting changes in the real estate landscape.

Frequently asked questions

What is the current guideline value of Nehruji Street?

The current guideline value of Nehruji Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 399 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of +852% over this period.

What is the land classification for Nehruji Street?

Nehruji Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nehruji Street?

The Konnur Sub Registrar Office covers Nehruji Street and is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Nehruji Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 38,00,000, leading to a stamp duty of Rs 2,66,000.