Guideline Value for Nehuru Nagar 2nd street

Nehuru Nagar 2nd street guideline value

The current guideline value of Nehuru Nagar 2nd street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehuru Nagar 2nd street has changed

The guideline value for Nehuru Nagar 2nd street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. 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, with a median value of Rs 1,600 per sq.ft. The guideline value of Nehuru Nagar 2nd street is below this median.

• Nehuru Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 14th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 13th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 5th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehuru Nagar 2nd 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, and the registration fee at 2% would be Rs 26,000, totaling 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehuru Nagar 2nd street?

The Sub Registrar Office that covers Nehuru Nagar 2nd 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 an essential reference for determining the minimum price at which a property can be registered in Tondaiarpet. It serves as a basis for calculating stamp duty and registration fees during property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is crucial for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 2nd street?

The current guideline value of Nehuru Nagar 2nd 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 increased to Rs 1,200 per sq.ft in 2023, and is currently Rs 1,300 per sq.ft as of 2024.

What is the land classification for Nehuru Nagar 2nd street?

The land classification for Nehuru Nagar 2nd street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office for Nehuru Nagar 2nd street located?

The Sub Registrar Office for Nehuru Nagar 2nd street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.