Guideline Value for Nehuru Nagar 11th street

Nehuru Nagar 11th street guideline value

The current guideline value of Nehuru Nagar 11th street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehuru Nagar 11th street has changed

The guideline value for Nehuru Nagar 11th street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in 2023 and further rose to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the value fell by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Nehuru Nagar 11th street's 2024 figure below that median.

• Nehuru Nagar 10th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 12th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 13th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 14th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 2nd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehuru Nagar 11th street

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

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

Which Sub Registrar Office covers Nehuru Nagar 11th street?

The Nehuru Nagar 11th street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. When buying or selling property, the guideline value determines the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately for tax purposes.

Additionally, the guideline value is used to calculate the stamp duty and registration fees applicable to the property. Buyers must be aware of these values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 11th street?

The current guideline value of Nehuru Nagar 11th street 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 several times, with the most recent increase of 8% from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024. The value was Rs 804 per sq.ft in 2017, showing a significant rise over the years.

What is the land classification for Nehuru Nagar 11th street?

The land classification for Nehuru Nagar 11th street is Residential Class II Type - I. This classification is essential for determining the permissible uses of the land.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Nehuru Nagar 11th 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 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.