Guideline Value for GRAMA NEDUNCHALAI SCHOOL CROSS STREET

Grama Nedunchalai School Cross Street guideline value

The current guideline value for Grama Nedunchalai School 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 School Cross Street has changed

The guideline value for Grama Nedunchalai School Cross Street has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,000 per sq.ft. The most recent revision in 2024 increased this figure to Rs 2,200 per sq.ft, reflecting a change of +10% from the previous year.

In summary, the guideline value has increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. This current figure aligns with the median guideline value for the village, which is also Rs 2,200 per sq.ft.

Guideline values in Sholinganallur - 1

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

• Grama Nedunchalai 3rd Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai School Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 2nd Cross Street Extension: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai School Street - C.G.S.Farm 1st Joint Street: Rs 2,200 per sq.ft (2024)
• Grama Nedunchalai 20th Cross Street: 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 School 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, totaling 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Grama Nedunchalai School Cross Street?

The Grama Nedunchalai School 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. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This value is essential for legal documentation and compliance with local regulations.

Frequently asked questions

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

The current guideline value for Grama Nedunchalai School 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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for this street?

Grama Nedunchalai School Cross Street is classified under Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000 at a rate of 7%.