Guideline Value for NEELAKANDAN STREET

Neelakandan Street guideline value

The current guideline value of Neelakandan Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Neelakandan Street has changed

The guideline value for Neelakandan Street has undergone several revisions over the years. In 2002, the value was Rs 771 per sq.ft. It increased to Rs 847 per sq.ft in 2003, marking a 10% rise. The next significant jump occurred in 2007 when the value reached Rs 1,500 per sq.ft, reflecting a 77% increase. By 2012, the value had risen to Rs 5,300 per sq.ft, a remarkable 253% increase from 2007. However, it dropped to Rs 3,551 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 5,300 per sq.ft in 2023, followed by the current rate of Rs 5,800 per sq.ft from 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 652%. There are no figures available in the register for the years not mentioned above.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the 2024 figure for Neelakandan Street.

• Nehru Street (Anna Nedumpathai Left Side): Rs 5,000 per sq.ft (2024)
• Nehru Street (Choolaimedu High Road East Side): Rs 5,300 per sq.ft (2024)
• Narayana Street: Rs 4,600 per sq.ft (2024)
• Nelson Manickam Road: Rs 11,000 per sq.ft (2024)
• Nerkundram 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Nerkundram Pathai: Rs 6,300 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 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, leading to a total of Rs 5,22,000. Please 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 information.

Which Sub Registrar Office covers Neelakandan Street?

The Sub Registrar Office covering Neelakandan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and legally. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during property registration.

Frequently asked questions

What is the current guideline value of Neelakandan Street?

The current guideline value of Neelakandan Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 771 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, showing an overall increase of 652% over the years.

What is the land classification for Neelakandan Street?

Neelakandan Street is classified as Residential Class I Type - I.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Neelakandan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,06,000 at a rate of 7%.