Guideline Value for Nehuru Nagar 12th street

Nehuru Nagar 12th street guideline value

The current guideline value of Nehuru Nagar 12th street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Nehuru Nagar 12th street has changed

The guideline value for Nehuru Nagar 12th street has seen 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 finally, it rose to the current rate of Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. 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 village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Nehuru Nagar 12th street is below this median.

• Nehuru Nagar 11th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 13th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 10th 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 12th 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 be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehuru Nagar 12th street?

The Sub Registrar Office that covers Nehuru Nagar 12th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted fairly and transparently.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 12th street?

The current guideline value of Nehuru Nagar 12th 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Nehuru Nagar 12th street?

Nehuru Nagar 12th street is classified as Residential Class II Type - I.

What are the other streets in Tondaiarpet with the same guideline value?

Other streets in Tondaiarpet with the same guideline value of Rs 1,300 per sq.ft include Nehuru Nagar 11th street, Nehuru Nagar 13th street, Nehuru Nagar 10th street, Nehuru Nagar 14th street, Nehuru Nagar 1st street, and Nehuru Nagar 2nd street.

Where can I find the Sub Registrar Office for Nehuru Nagar 12th street?

The Sub Registrar Office for Nehuru Nagar 12th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.