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

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

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

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

The guideline value for M.G.R.Netunchalai South (Veeranam Road South) has seen several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012, marking a growth of 160%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 7,200 per sq.ft, an increase of 11% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 188%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry 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. The guideline value of M.G.R.Netunchalai South (Veeranam Road South) is above this median.

• M.G.R.Netunchalai North (Veeranam Road North): 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 South (Veeranam Road South)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,200 per sq.ft, the total guideline value amounts to 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 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 details.

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

The Sub Registrar Office that covers M.G.R.Netunchalai South (Veeranam Road South) 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. 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 registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction is in compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of M.G.R.Netunchalai South (Veeranam Road South)?

The current guideline value of M.G.R.Netunchalai South (Veeranam Road South) 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 from Rs 2,500 per sq.ft in 2007 to Rs 7,200 per sq.ft in 2024, showing an overall increase of 188% over the years.

What is the land classification for M.G.R.Netunchalai South (Veeranam Road South)?

The land classification for M.G.R.Netunchalai South (Veeranam Road South) is Mixed Type - I.

Which office handles the registration for M.G.R.Netunchalai South (Veeranam Road South)?

The Neelankarai Sub Registrar Office handles the registration for M.G.R.Netunchalai South (Veeranam Road South), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 72,00,000, the stamp duty would be Rs 5,04,000 at a rate of 7%.