Guideline Value for Nehuru Nagar 8th street

Nehuru Nagar 8th street guideline value

The current guideline value of Nehuru Nagar 8th 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 8th street has changed

The guideline value for Nehuru Nagar 8th street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 100% rise over the 16 years. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 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 guideline value in the village is Rs 1,600 per sq.ft, placing Nehuru Nagar 8th street's 2024 figure below this median.

• Nehuru Nagar 7th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 9th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 6th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 5th 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 8th 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, while the registration fee at 2% would be Rs 26,000, resulting in a total of 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 calculate your costs using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nehuru Nagar 8th street?

The Sub Registrar Office that covers Nehuru Nagar 8th street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the property registration process in Tondaiarpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall costs associated with property transactions. This value is updated periodically to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 8th street?

The current guideline value of Nehuru Nagar 8th 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 increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking a total increase of 117% over the period.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, which is higher than the current value of Nehuru Nagar 8th street.

What are the stamp duty and registration fees for property in Nehuru Nagar 8th 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 8th street?

The Royapuram Sub Registrar Office handles registrations for Nehuru Nagar 8th street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.