Guideline Value for Pandit Nehru Street

Pandit Nehru Street guideline value

The current guideline value of Pandit Nehru Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class V Type - I.

How the guideline value of Pandit Nehru Street has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,900 per sq.ft, reflecting a change of 6% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Pandit Nehru Street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 6%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Pandit Nehru Street's 2024 figure is below this median.

• Pandurangan Lane: Rs 1,900 per sq.ft (2024)
• Pandian Nagar: Rs 2,200 per sq.ft (2024)
• Pandurangan Street: Rs 2,200 per sq.ft (2024)
• Panchayat Street: Rs 2,200 per sq.ft (2024)
• Pappathi Ammal Koil Street: Rs 2,200 per sq.ft (2024)
• Palvadi Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Pandit Nehru Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pandit Nehru Street?

The Sub Registrar Office that covers Pandit Nehru Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration of property transactions in Erukancherry. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions, as all parties are aware of the official value set by the registration authorities.

Frequently asked questions

What is the current guideline value of Pandit Nehru Street?

The current guideline value of Pandit Nehru Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back up to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, while Pandit Nehru Street's value is below this median.

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

The stamp duty for a property valued at Rs 19,00,000 would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Pandit Nehru Street?

The Madhavaram Sub Registrar Office handles the registration for Pandit Nehru Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.