Guideline Value for NEDUNCHEZIAN STREET

Nedunchezian Street guideline value

The current guideline value of Nedunchezian Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Nedunchezian Street has changed

The guideline value for Nedunchezian Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,160 per sq.ft from the 2024 revision, marking an 8% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Nedunchezian Street.

• Natrajapuram 5th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 4th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 3rd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 1st Street: Rs 2,160 per sq.ft (2024)
• Nehru Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezian Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, making the total Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nedunchezian Street?

The Sub Registrar Office that covers Nedunchezian Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nedunchezian Street?

The current guideline value of Nedunchezian Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification of Nedunchezian Street?

Nedunchezian Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nedunchezian Street?

The Pallavaram Sub Registrar Office, which covers Nedunchezian Street, is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Nedunchezian Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.