Guideline Value for NEELAKANDAN STREET

Neelakandan Street guideline value

The current guideline value of Neelakandan Street in Zaminpallavaram village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Neelakandan Street has changed

The guideline value for Neelakandan Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the value to Rs 2,160 per sq.ft, marking a significant increase of 61% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for Neelakandan Street. This lack of data means that the changes in value during those years are not documented in the register.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 3,300 per sq.ft, indicating that Neelakandan Street's current value is below this median.

• Natpu Nagar: Rs 2,100 per sq.ft (2024)
• Natesan Street: Rs 3,300 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai High Road: Rs 2,160 per sq.ft (2024)
• Nellipettai Road: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Neelakandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total cost for stamp duty and registration fees to Rs 1,94,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neelakandan Street?

The Neelakandan Street falls under the jurisdiction of 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Zaminpallavaram, as it determines the minimum value at which a property can be registered. This value is set by the registration department and is updated periodically to reflect changes in the market.

When you register a property, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Neelakandan Street?

The current guideline value of Neelakandan 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, and then increased to Rs 2,160 per sq.ft in 2024, marking a 61% increase from the 2017 figure.

Are there any years without guideline values for Neelakandan Street?

Yes, there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for Neelakandan Street.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, indicating that Neelakandan Street's current value is below this median.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.