Guideline Value for NEDUNCHEZHIAN ROAD

Nedunchezhian Road guideline value

The current guideline value of Nedunchezhian Road is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nedunchezhian Road has changed

The guideline value for Nedunchezhian Road has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. This value remained the same until 2017 when it decreased to Rs 1,675 per sq.ft. The 2023 revision saw a significant increase to Rs 2,500 per sq.ft, followed by another increase to Rs 2,800 per sq.ft in 2024, marking a 12% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 12%. The jump from 2017 to 2023 was notable at 49%, while the 2012 to 2017 period saw a decrease of 33%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, placing Nedunchezhian Road's current value above this median.

• Nedunzhian Street: Rs 2,800 per sq.ft (2024)
• Nazimunnissa Garden: Rs 1,700 per sq.ft (2024)
• Nehru Nagar: Rs 3,300 per sq.ft (2024)
• Nasin Ghoose Garden: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• Nandagopal Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezhian Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the 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 more information.

Which Sub Registrar Office covers Nedunchezhian Road?

The Sub Registrar Office that covers Nedunchezhian Road 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 details.

How the guideline value is used when you buy or sell in Chemmancheri

The guideline value is a crucial factor in the registration process of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nedunchezhian Road?

The current guideline value of Nedunchezhian Road is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Nedunchezhian Road?

The land classification for Nedunchezhian Road is Residential Class II Type - I.

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 stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 28,00,000, the stamp duty would be calculated on this amount or the sale price, whichever is higher.