Guideline Value for M.G.R.NETUNCHALAI NORTH (VEERANAM ROAD NORTH)

M.G.R.Netunchalai North (Veeranam Road North) guideline value

The current guideline value for M.G.R.Netunchalai North (Veeranam Road North) is Rs 7,200 per sq.ft, effective from 1 July 2024. This property is located in Perungudi village, under the Neelankarai SRO, and is classified as Mixed Type - I land.

How the guideline value of M.G.R.Netunchalai North (Veeranam Road North) has changed

The guideline value for M.G.R.Netunchalai North has experienced significant changes over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 333%. However, this value saw a decrease to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, and most recently, it has increased to Rs 7,200 per sq.ft in 2024, an increase of 11%. There are no figures available for the years 2002 and 2003 in the register for this street.

Overall, from 2007 to 2024, the guideline value has increased by 380%. The changes reflect the fluctuations in property valuation over the years, showing both increases and decreases at different intervals.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. M.G.R.Netunchalai North's 2024 figure of Rs 7,200 per sq.ft is above this median.

• M.G.R.Netunchalai South (Veeranam Road South): Rs 7,200 per sq.ft (2024)
• Munusamy Street: Rs 2,800 per sq.ft (2024)
• Manimegalai Street: Rs 2,800 per sq.ft (2024)
• Nagapillai Avenue: Rs 2,800 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st (Cross) Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R.Netunchalai North (Veeranam Road North)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,200 per sq.ft, the total guideline value would be Rs 72,00,000. The stamp duty at 7% would be Rs 5,04,000, and the registration fee at 2% would be Rs 1,44,000, bringing the total to Rs 6,48,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers M.G.R.Netunchalai North (Veeranam Road North)?

The M.G.R.Netunchalai North (Veeranam Road North) area 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 details.

How the guideline value is used when you buy or sell in Perungudi

The guideline value is an essential factor when buying or selling property in Perungudi, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value for M.G.R.Netunchalai North?

The current guideline value for M.G.R.Netunchalai North (Veeranam Road North) is Rs 7,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 7,200 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What are the other streets in Perungudi with their guideline values?

Other streets in Perungudi include M.G.R.Netunchalai South at Rs 7,200 per sq.ft, Munusamy Street at Rs 2,800 per sq.ft, and Nehru Nagar at Rs 5,500 per sq.ft, among others.

What is the registration fee for property in M.G.R.Netunchalai North?

The registration fee for property in M.G.R.Netunchalai North is calculated based on the guideline value, which is currently Rs 7,200 per sq.ft. The fee is typically 2% of the total guideline value.

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. This office handles the registration of properties in the area.