Guideline Value for GRAMA NEDUNCHALAI 14TH CROSS STREET

Grama Nedunchalai 14th Cross Street guideline value

The current guideline value of Grama Nedunchalai 14th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Grama Nedunchalai 14th Cross Street has changed

The guideline value for Grama Nedunchalai 14th Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023. This represents a 10% increase from the previous year. Looking back further, the value was Rs 1,340 per sq.ft in 2017, marking a significant increase of 49% over the six years leading up to 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. This means that the changes in guideline value are only documented from 2017 onwards.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that have a guideline value for 2024, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Grama Nedunchalai 14th Cross Street. Below are other streets in Sholinganallur - 1 with their respective guideline values:

• Grama Nedunchalai 13th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 15th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 12th Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 18th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 12th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Nedunchalai 14th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grama Nedunchalai 14th Cross Street?

The Grama Nedunchalai 14th Cross Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that all transactions are recorded fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Grama Nedunchalai 14th Cross Street?

The current guideline value for Grama Nedunchalai 14th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, which is a total increase of 64%. The most recent change was a 10% increase from Rs 2,000 per sq.ft in 2023.

What is the land classification for Grama Nedunchalai 14th Cross Street?

Grama Nedunchalai 14th Cross Street is classified under Residential Class II Type - III, indicating its suitability for residential purposes.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.