Guideline Value for Nelson Street

Nelson Street guideline value

The current guideline value of Nelson Street in Oragadam village, under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nelson Street has changed

The guideline value for Nelson Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 119 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 1,500 per sq.ft, but it then dropped to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 marked an increase to Rs 1,500 per sq.ft, and the latest revision in 2024 has set it at Rs 1,600 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2024, the overall change in the guideline value is +1245%. Notably, the change from 2023 to 2024 is +7%, while the increase from 2017 to 2023 is +49%. The value experienced a significant rise of +275% from 2007 to 2012, and a remarkable increase of +236% from 2003 to 2007.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Nelson Street is below this median.

• Nesamani Street (Venkateswara Nagar): Rs 1,600 per sq.ft (2024)
• Nehru Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Nehru Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)
• Nehru Salai (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Nethaji Street: Rs 1,600 per sq.ft (2024)
• New Anna Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nelson Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nelson Street?

The Sub Registrar Office that covers Nelson Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Oragadam, as it serves as a benchmark for determining the stamp duty and registration fees. Buyers and sellers must be aware that the guideline value is used to calculate the applicable charges, ensuring compliance with local regulations.

When registering a property, the guideline value helps establish the official worth of the property, which can affect the overall transaction process. It is essential for both parties to understand these values to avoid any discrepancies during the registration.

Frequently asked questions

What is the current guideline value of Nelson Street?

The current guideline value of Nelson Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 119 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +1245% over the years.

What is the land classification for Nelson Street?

The land classification for Nelson Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nelson Street?

The Sub Registrar Office for Nelson Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Nelson Street?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.