Guideline Value for Nehuru Nagar 9th street

Nehuru Nagar 9th street guideline value

The current guideline value of Nehuru Nagar 9th street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nehuru Nagar 9th street has changed

The guideline value has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 804 per sq.ft in 2017, marking a change of +34%. The 2023 revision saw a further increase to Rs 1,200 per sq.ft, which is a rise of +49% from the previous figure. The current guideline value of Rs 1,300 per sq.ft, effective from July 2024, reflects an increase of +8% from 2023.

Overall, from 2007 to 2024, the guideline value has increased by +117%. It is important to note that the register has no figures for Nehuru Nagar 9th street for the years 2002, 2003, and 2012.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Nehuru Nagar 9th street is below the median.

• Nehuru Nagar 8th street: Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 7th 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 9th 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 cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nehuru Nagar 9th street?

The Sub Registrar Office that covers Nehuru Nagar 9th 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 details.

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 at which a property can be registered. When a buyer or seller engages in a transaction, the guideline value is used to calculate applicable taxes and fees.

During registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nehuru Nagar 9th street?

The current guideline value of Nehuru Nagar 9th 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, representing an overall increase of +117% over this period.

What is the land classification for Nehuru Nagar 9th street?

The land classification for Nehuru Nagar 9th street is Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Nehuru Nagar 9th street?

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