Guideline Value for Nehuru Nagar 14th street

Nehuru Nagar 14th street guideline value

The current guideline value of Nehuru Nagar 14th street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls 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 14th street has changed

The guideline value for Nehuru Nagar 14th 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 2023 revision increased the value to Rs 1,200 per sq.ft, and the current 2024 revision has further increased it to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Nehuru Nagar 14th street's 2024 figure below that median.

• Nehuru Nagar 13th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 12th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 11th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 3rd street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehuru Nagar 14th street

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, bringing the total to 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nehuru Nagar 14th street?

The Sub Registrar Office that covers Nehuru Nagar 14th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as the base value for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration process is fair and transparent.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 14th street?

The current guideline value of Nehuru Nagar 14th 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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Nehuru Nagar 14th street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Nehuru Nagar 14th street?

The Royapuram Sub Registrar Office handles registrations for Nehuru Nagar 14th street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Nehuru Nagar 14th street?

The land classification for Nehuru Nagar 14th street is Residential Class II Type - I.