Guideline Value for GRAMA NEDUNCHALAI 15TH CROSS STREET

Grama Nedunchalai 15th Cross Street guideline value

The current guideline value of Grama Nedunchalai 15th 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 is classified as Residential Class II Type - III.

How the guideline value of Grama Nedunchalai 15th Cross Street has changed

The guideline value for Grama Nedunchalai 15th Cross Street has seen several revisions over the years. The earliest recorded revision is from 2017, which set the value at Rs 1,340 per sq.ft. This was followed by a significant increase to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 further increased the guideline value to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Grama Nedunchalai 15th Cross Street.

• Grama Nedunchalai 14th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 18th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 13th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 12th Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Nedunchalai 15th 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 amounts to Rs 22,00,000. The stamp duty at 7% would be 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.

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

Which Sub Registrar Office covers Grama Nedunchalai 15th Cross Street?

The Grama Nedunchalai 15th Cross Street falls under 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Grama Nedunchalai 15th Cross Street?

The current guideline value of Grama Nedunchalai 15th Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 for these fees.

Which office handles registrations for Grama Nedunchalai 15th Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Grama Nedunchalai 15th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions, ensuring that the transaction is recorded at a fair value and maintaining transparency.