Guideline Value for NEDUNZHIAN STREET

Nedunzhian Street guideline value

The current guideline value of Nedunzhian Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nedunzhian Street has changed

Over the years, the guideline value of Nedunzhian Street has seen significant changes. The earliest recorded figure is from 2003, where the value was Rs 115 per sq.ft. This increased to Rs 300 per sq.ft in 2007, marking a substantial rise of 161%. The value then saw a remarkable jump to Rs 2,500 per sq.ft in 2012, which represented an increase of 733%. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and then to Rs 2,800 per sq.ft in 2024, showing an increase of 12%.

In summary, the guideline value has increased significantly from Rs 115 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, which is an overall increase of 2,335%. The register has no figure for the year 2002 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 value is Rs 1,700 per sq.ft, placing Nedunzhian Street's 2024 value above this median.

• Nedunchezhian Road: 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 Nedunzhian Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the 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, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nedunzhian Street?

The Sub Registrar Office that covers Nedunzhian 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 Chemmancheri

The guideline value is a crucial factor when registering properties in Chemmancheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the registration fees and stamp duty are calculated 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 Nedunzhian Street?

The current guideline value of Nedunzhian Street 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 significantly from Rs 115 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with various increases and one decrease along the way.

What are the other streets in Chemmancheri with their guideline values?

Other streets in Chemmancheri have varying guideline values, with Nedunchezhian Road at Rs 2,800 per sq.ft, and Nehru Nagar, Nasin Ghoose Garden, and Nehru Street all at Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

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

The Neelankarai Sub Registrar Office covers Nedunzhian Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.