Guideline Value for Nehuru Nagar 4th street

Nehuru Nagar 4th street guideline value

The current guideline value of Nehuru Nagar 4th street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Nehuru Nagar 4th street has changed

Over the years, the guideline value of Nehuru Nagar 4th street has seen several revisions. The most recent change was in 2024, where the value increased to Rs 1,300 per sq.ft from Rs 1,200 per sq.ft in 2023, marking an 8% increase. Prior to that, the value was Rs 804 per sq.ft in 2017, which represented a significant increase of 49% from the previous value of Rs 1,200 per sq.ft in 2012. The 2012 figure had decreased by 33% from Rs 600 per sq.ft in 2007. Therefore, from 2007 to 2024, the overall increase in guideline value is 117%.

The register does not have figures for the years 2002 and 2003 for this street. The earlier revisions show a consistent pattern of change, with the most notable increase occurring between 2007 and 2012, where the value doubled from Rs 600 to Rs 1,200 per sq.ft.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 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 is Rs 1,600 per sq.ft, positioning Nehuru Nagar 4th street's 2024 figure below this median.

• Nehuru Nagar 1st street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 7th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehuru Nagar 4th street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is 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 duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehuru Nagar 4th street?

The Sub Registrar Office that covers Nehuru Nagar 4th 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 plays a crucial role during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with regulatory requirements.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 4th street?

The current guideline value of Nehuru Nagar 4th 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 significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024. This represents an overall increase of 117% over the years.

What are the stamp duty and registration fees for properties in Nehuru Nagar 4th street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which Sub Registrar Office covers Nehuru Nagar 4th street?

The Royapuram Sub Registrar Office covers Nehuru Nagar 4th street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification of Nehuru Nagar 4th street?

Nehuru Nagar 4th street falls under the Residential Class II Type - I land classification as per the guidelines.