Guideline Value for NEDUNCHELIAN 3RD STREET

Nedunchelian 3rd Street guideline value

The current guideline value of Nedunchelian 3rd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Nedunchelian 3rd Street has changed

The guideline value for Nedunchelian 3rd Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 raised the value further to Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Nedunchelian 3rd Street's 2024 figure is above this median.

• Nedunchelian 2nd Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 4th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 1st 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for your calculations.

Which Sub Registrar Office covers Nedunchelian 3rd Street?

Nedunchelian 3rd Street falls under 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 plays a crucial role during the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid when buying or selling a property.

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the correct revenue based on the property's worth.

Frequently asked questions

What is the current guideline value of Nedunchelian 3rd Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,900 per sq.ft in 2024, marking a total increase of 66% over this period.

What are the guideline values for other streets in Sholinganallur - 1?

Other streets in Sholinganallur - 1, such as Nedunchelian 1st, 2nd, 4th, 5th, 6th, and 7th Streets, all share the same guideline value of Rs 3,900 per sq.ft for 2024.

What fees are associated with buying property in Nedunchelian 3rd Street?

When purchasing property in Nedunchelian 3rd Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Nedunchelian 3rd Street?

The Neelankarai Sub Registrar Office is responsible for handling property registrations for Nedunchelian 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.