Guideline Value for NEDUNCHELIAN 4TH STREET

Nedunchelian 4th Street guideline value

The current guideline value of Nedunchelian 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of Nedunchelian 4th Street has changed

The guideline value for Nedunchelian 4th Street has seen significant changes over the years. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an increase from Rs 3,500 per sq.ft in 2023, marking an 11% rise. Prior to that, in 2017, the value was Rs 2,345 per sq.ft, reflecting a substantial increase of 49% to reach the 2023 figure. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 66%. This upward trend highlights the changes in valuation over the years, culminating in the current rate of Rs 3,900 per sq.ft as of the 2024 revision.

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, placing Nedunchelian 4th Street's 2024 figure above the median.

• Nedunchelian 3rd Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 5th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 2nd Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 6th Street: Rs 3,900 per sq.ft (2024)
• Nedunchelian 1st 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to 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, bringing the total fees together 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.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Nedunchelian 4th Street?

The Sub Registrar Office that covers Nedunchelian 4th 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 crucial 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 must be paid during the transaction.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nedunchelian 4th Street?

The current guideline value of Nedunchelian 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 66%. The most recent revision in 2023 was Rs 3,500 per sq.ft.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the guideline value of Rs 3,900 per sq.ft, the total guideline value is Rs 39,00,000. The stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Nedunchelian 4th Street?

The registration for Nedunchelian 4th Street is handled by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Nedunchelian 4th Street?

Nedunchelian 4th Street is classified as Residential Class I Type - II, indicating its designation for residential purposes within the area.