Guideline Value for Nehuru Nagar 5th street

Nehuru Nagar 5th street guideline value

The current guideline value of Nehuru Nagar 5th 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 is classified as Residential Class II Type - I.

How the guideline value of Nehuru Nagar 5th street has changed

The guideline value for Nehuru Nagar 5th street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision. The 2023 figure remained unchanged from the 2012 revision, which was also Rs 1,200 per sq.ft. Prior to that, in 2007, the guideline value was Rs 600 per sq.ft, reflecting a significant increase of 100% to reach the 2012 figure.

There are no figures available for the revisions in 2017, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with 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, indicating that Nehuru Nagar 5th street's 2024 figure is below the median.

• Nehuru Nagar 4th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 7th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 8th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nehuru Nagar 5th 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 cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehuru Nagar 5th street?

The Sub Registrar Office that covers Nehuru Nagar 5th 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 property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value of properties for registration purposes. When buying or selling property, the guideline value is used to calculate applicable fees such as stamp duty and registration costs.

It is essential to be aware that the guideline value can vary significantly between different streets in the same area. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 5th street?

The current guideline value of Nehuru Nagar 5th 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 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over the years.

What is the registration office for Nehuru Nagar 5th street?

The registration office for Nehuru Nagar 5th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Nehuru Nagar 5th street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.

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

Other streets in Tondaiarpet that share the same guideline value of Rs 1,300 per sq.ft in 2024 include Nehuru Nagar 4th street, Nehuru Nagar 6th street, Nehuru Nagar 3rd street, Nehuru Nagar 7th street, Nehuru Nagar 2nd street, and Nehuru Nagar 8th street.