Guideline Value for Nellur High Road

Nellur High Road guideline value

The current guideline value of Nellur High Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Madhavaram village, under the Madhavaram SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Nellur High Road has changed

The guideline value for Nellur High Road has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 3,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 3,300 per sq.ft, marking a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Therefore, the only revisions that show a guideline value are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Nellur High Road above this median.

• Nehru St (Ward No.9): Rs 2,200 per sq.ft (2024)
• Nehru st (Ward No.29): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward No.22): Rs 1,300 per sq.ft (2024)
• Nehru St (Ward-09): Rs 2,200 per sq.ft (2024)
• Nehru Street, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Nehru Street, Kalpalayam (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nellur High Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator to get more details.

Which Sub Registrar Office covers Nellur High Road?

The Sub Registrar Office that covers Nellur High Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nellur High Road?

The current guideline value of Nellur High Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nellur High Road was Rs 3,000 per sq.ft in 2012 and increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Nellur High Road?

Nellur High Road is classified as Commercial Class I Type - I. This classification can influence the types of developments permitted in the area.

What are the other guideline values in Madhavaram?

The guideline values for other streets in Madhavaram vary, with a range from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the area is Rs 1,600 per sq.ft.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a total stamp duty and registration fee of Rs 2,97,000.