Guideline Value for GRAMA NEDUNCHALAI 1ST CROSS STREET

Grama Nedunchalai 1st Cross Street guideline value

The current guideline value of Grama Nedunchalai 1st 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 1st Cross Street has changed

The guideline value for Grama Nedunchalai 1st Cross Street has seen several revisions over the years. In 2017, the value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting 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 that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Grama Nedunchalai 1st Cross Street.

• Grama Nedunchalai 18th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 1st Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 15th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 20th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 14th Cross Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 2nd Cross Street Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Grama Nedunchalai 1st 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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grama Nedunchalai 1st Cross Street?

The Sub Registrar Office that covers Grama Nedunchalai 1st 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 during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Grama Nedunchalai 1st Cross Street?

The current guideline value for Grama Nedunchalai 1st 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. This represents a 64% increase over the seven-year period.

What is the land classification for Grama Nedunchalai 1st Cross Street?

Grama Nedunchalai 1st Cross Street is classified as Residential Class II Type - III. This classification is important for determining the type of development allowed in the area.

Where can I find the registration office for this street?

The registration office for Grama Nedunchalai 1st 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.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 1,98,000.