Guideline Value for NEDUNCHELIAN 5TH STREET

Nedunchelian 5th Street guideline value

The current guideline value of Nedunchelian 5th 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Nedunchelian 5th Street has changed

The guideline value of Nedunchelian 5th Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision shows a further increase to Rs 3,900 per sq.ft, representing an 11% change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 66%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 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 value among these streets is Rs 2,200 per sq.ft, making the 2024 guideline value for Nedunchelian 5th Street above the median.

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

Stamp duty and registration fee for property in Nedunchelian 5th 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 the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nedunchelian 5th Street?

The Sub Registrar Office that covers Nedunchelian 5th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that both parties are aware of the financial obligations involved in the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Nedunchelian 5th Street?

The current guideline value of Nedunchelian 5th 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 3,500 per sq.ft in 2023, and then to Rs 3,900 per sq.ft in 2024. This represents a total increase of 66% from 2017 to 2024.

What are the stamp duty and registration fees for property in Nedunchelian 5th Street?

For a property valued at 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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Nedunchelian 5th Street?

The Neelankarai Sub Registrar Office handles registrations for Nedunchelian 5th Street. It is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Nedunchelian 5th Street?

Nedunchelian 5th Street is classified as Residential Class I Type - II. This classification is important for determining the permissible uses of the land.