Guideline Value for GRAMA NEDUNCHALAI 18TH CROSS STREET

Grama Nedunchalai 18th Cross Street guideline value

The current guideline value of Grama Nedunchalai 18th 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, with a land classification of Residential Class II Type - III.

How the guideline value of Grama Nedunchalai 18th Cross Street has changed

The guideline value for Grama Nedunchalai 18th Cross Street has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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 for this street in the register.

Guideline values in Sholinganallur - 1

In 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 value for these streets is Rs 2,200 per sq.ft, which is equal to the current guideline value of Grama Nedunchalai 18th Cross Street.

• Grama Nedunchalai 15th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 14th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 13th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 20th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Nedunchalai 18th 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. Together, the total cost for stamp duty and registration would be 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 also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Grama Nedunchalai 18th Cross Street?

The Sub Registrar Office that covers Grama Nedunchalai 18th Cross Street is 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 an essential factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Grama Nedunchalai 18th Cross Street?

The current guideline value of Grama Nedunchalai 18th 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 increased 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.

Which office handles property registrations in this area?

The Neelankarai Sub Registrar Office handles property registrations for Grama Nedunchalai 18th Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the guideline value determined for properties?

The guideline value is determined by the state government and is used as a basis for calculating stamp duty and registration fees during property transactions. It reflects the market conditions and land classification in the area.