Guideline Value for Nehuru Nagar 7th street

Nehuru Nagar 7th street guideline value

The current guideline value of Nehuru Nagar 7th 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 7th street has changed

The guideline value for Nehuru Nagar 7th street has undergone several revisions over the years. The earliest available figure is from the 2007 revision, which was Rs 600 per sq.ft. This value increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 100% increase over the 2007 figure. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

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 7th street is below this median.

• Nehuru Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 8th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 5th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 9th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 4th 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 7th 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, 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 and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nehuru Nagar 7th street?

The Sub Registrar Office that covers Nehuru Nagar 7th 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 stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 7th street?

The current guideline value of Nehuru Nagar 7th street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 600 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 117%.

Which Sub Registrar Office handles property registrations in this area?

The Royapuram Sub Registrar Office handles property registrations for Nehuru Nagar 7th street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What are the stamp duty and registration fees for a property in Nehuru Nagar 7th street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would be Rs 1,17,000.

How is the guideline value determined for properties in Tondaiarpet?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.