Guideline Value for PANDIT NEHRU LANE

Pandit Nehru Lane guideline value

The current guideline value of Pandit Nehru Lane in Vilingiyambakkam village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Pandit Nehru Lane has changed

The guideline value for Pandit Nehru Lane has seen several revisions over the years. The earliest recorded figure is from 2003, where the value was Rs 79 per sq.ft. This increased to Rs 250 per sq.ft in 2007, followed by a significant rise to Rs 750 per sq.ft in 2012. However, there was a decrease to Rs 502 per sq.ft in 2017. The value remained at Rs 800 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from 2003 to 2024, the guideline value has increased by 913%. The 2024 revision shows a consistent figure of Rs 800 per sq.ft, which is below the median guideline value of Rs 935 per sq.ft for the 252 streets in Vilingiyambakkam under the Avadi SRO.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, the guideline values range from Rs 800 to Rs 4,400 per sq.ft as of the 2024 revision. The median value is Rs 935 per sq.ft, placing Pandit Nehru Lane below this median. Here are some other streets in Vilingiyambakkam:

• Pandit Nehur St: Rs 800 per sq.ft (2024)
• Pandiyan St: Rs 935 per sq.ft (2024)
• Patel St: Rs 935 per sq.ft (2024)
• Patel St (West): Rs 935 per sq.ft (2024)
• Padmanaban St: Rs 935 per sq.ft (2024)
• O.P.Raman St: Rs 1,310 per sq.ft (2024)

Stamp duty and registration fee for property in Pandit Nehru Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. 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 detailed calculations.

Which Sub Registrar Office covers Pandit Nehru Lane?

The Sub Registrar Office that covers Pandit Nehru Lane is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

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

When you register a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in property transactions and aids in the effective collection of revenue by the government.

Frequently asked questions

What is the current guideline value of Pandit Nehru Lane?

The current guideline value of Pandit Nehru Lane is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 79 per sq.ft in 2003 to Rs 800 per sq.ft in 2024, showing an overall increase of 913% over this period.

What is the median guideline value in Vilingiyambakkam?

The median guideline value in Vilingiyambakkam is Rs 935 per sq.ft as of the 2024 revision.

What are the stamp duty and registration fees for a property in Pandit Nehru Lane?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where can I find the Sub Registrar Office for Pandit Nehru Lane?

The Avadi Sub Registrar Office covers Pandit Nehru Lane and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.