Guideline Value for NEDUNCHELIAN 7TH STREET

Nedunchelian 7th Street guideline value

The current guideline value of Nedunchelian 7th 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 7th Street has changed

The guideline value for Nedunchelian 7th Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year.

There are no recorded figures 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 carrying a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Nedunchelian 7th Street is above this median.

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

Stamp duty and registration fee for property in Nedunchelian 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the 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, totaling 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 details.

Which Sub Registrar Office covers Nedunchelian 7th Street?

The Nedunchelian 7th Street is covered by 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 plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the necessary revenue from property transfers.

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 registration process is fair and consistent across different properties within the area.

Frequently asked questions

What is the current guideline value of Nedunchelian 7th Street?

The current guideline value of Nedunchelian 7th 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 increased from Rs 2,345 per sq.ft in 2017 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 66% across these years.

What are the other streets with the same guideline value in Sholinganallur - 1?

Other streets in Sholinganallur - 1 that share the same guideline value of Rs 3,900 per sq.ft include Nedunchelian 6th Street, Nedunchelian Street, Nedunchelian 5th Street, Nedunchelian 4th Street, Nedunchelian 3rd Street, and Nedunchelian 2nd Street.

What is the registration fee for property in Nedunchelian 7th Street?

The registration fee for property in Nedunchelian 7th Street is calculated based on the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft property, the registration fee would amount to Rs 78,000.

Where can I find the Sub Registrar Office for Nedunchelian 7th Street?

The Sub Registrar Office covering Nedunchelian 7th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.