Guideline Value for NEELA GARDEN

Neela Garden guideline value

The current guideline value of Neela Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Uthandi village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Neela Garden has changed

The guideline value for Neela Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it to Rs 1,100 per sq.ft.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 is an increase of 10%. The register has no figures for Neela Garden for the years 2002, 2003, and 2007.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Neela Garden's 2024 figure is below this median.

• Natarajan Garden: Rs 1,100 per sq.ft (2024)
• Natarajan Avenue/Garden: Rs 1,100 per sq.ft (2024)
• Natarajan Avenue: Rs 1,700 per sq.ft (2024)
• Naiyeenar Kuppam: Rs 2,200 per sq.ft (2024)
• Noodeen/Bhaper Garden: Rs 1,100 per sq.ft (2024)
• Muthanmal Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Neela Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, resulting in a total of Rs 99,000. 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 Neela Garden?

The Sub Registrar Office that covers Neela Garden 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 Uthandi

The guideline value plays a crucial role during the registration process of property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees associated with property transactions in the region.

Frequently asked questions

What is the current guideline value of Neela Garden?

The current guideline value of Neela Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Neela Garden?

Neela Garden is classified as Residential Class III Type - I under the Neelankarai SRO.

What are the stamp duty rates for property in Neela Garden?

The stamp duty rate for property transactions in Neela Garden is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Neela Garden located?

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