Guideline Value for Nehur Street

Nehur Street guideline value

The current guideline value of Nehur Street in Gowrivakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Nehur Street has changed

The guideline value for Nehur Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. This marked a significant decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 2,000 per sq.ft. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

It's important to note that there are no recorded figures for Nehur Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a net increase of 10%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for Nehur Street.

• Nakkiran Street: Rs 840 per sq.ft (2024)
• Nagalingam Street: Rs 1,600 per sq.ft (2024)
• Mutharamman Koil Street: Rs 840 per sq.ft (2024)
• Padmavathi Nagar: Rs 840 per sq.ft (2024)
• Palaniappa Nagar: Rs 2,200 per sq.ft (2024)
• Palaniappa Nagar 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nehur Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehur Street?

Nehur Street is covered by the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum price at which properties can be registered. When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value can differ from the actual sale price. In cases where the sale price is higher than the guideline value, the stamp duty will be charged on the sale price instead.

Frequently asked questions

What is the current guideline value of Nehur Street?

The current guideline value of Nehur Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Nehur Street?

Nehur Street is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Nehur Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.