Guideline Value for NEDUNCHELIAN 1ST STREET

Nedunchelian 1st Street guideline value

The current guideline value of Nedunchelian 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Nedunchelian 1st Street has changed

The guideline value for Nedunchelian 1st Street has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11%.

Prior to the 2023 revision, there are no recorded figures for this street in the guideline value register. The 2024 figure of Rs 3,900 per sq.ft reflects the latest valuation for this street.

Guideline values in Sholinganallur - 1

In the village of 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 guideline value for these streets is Rs 2,200 per sq.ft, and the guideline value for Nedunchelian 1st Street is above this median.

• Nedunchelian 2nd Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 3rd Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 4th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 5th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 6th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchelian 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nedunchelian 1st Street?

The Sub Registrar Office that covers Nedunchelian 1st 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 information.

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

The guideline value is a critical 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.

Frequently asked questions

What is the current guideline value of Nedunchelian 1st Street?

The current guideline value of Nedunchelian 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Between the 2023 and 2024 revisions, the guideline value increased from Rs 3,500 per sq.ft to Rs 3,900 per sq.ft, which is an increase of 11%.

What is the land classification for Nedunchelian 1st Street?

Nedunchelian 1st Street is classified as Residential Class I Type - II.

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 Nedunchelian 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.