Guideline Value for NEELAMBATCHA DHARGA (1 TO 11 STREET)

Neelambatcha Dharga (1 To 11 Street) guideline value

The current guideline value of Neelambatcha Dharga (1 To 11 Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Neelambatcha Dharga (1 To 11 Street) has changed

The guideline value for Neelambatcha Dharga has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft in 2024. The median value for these streets is Rs 8,800 per sq.ft, placing Neelambatcha Dharga's 2024 value below this median.

• Neelambatcha Dharga: Rs 3,300 per sq.ft (2024)
• Neelambatcha Seri: Rs 3,300 per sq.ft (2024)
• Nattu Veerachi Mudali Street: Rs 8,800 per sq.ft (2024)
• Nattu Subbraya Mudali 2nd Lane: Rs 8,800 per sq.ft (2024)
• Nattu Subbaraya Mudali Street: Rs 8,800 per sq.ft (2024)
• Nattu Subbaraya Mudali 1st Lane: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Neelambatcha Dharga (1 To 11 Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neelambatcha Dharga (1 To 11 Street)?

The Sub Registrar Office that covers Neelambatcha Dharga is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial reference point during property transactions in Mylapore. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price to assess which amount is higher. The stamp duty is then calculated based on this higher figure, ensuring that the correct fees are paid during the registration process.

Frequently asked questions

What is the current guideline value for Neelambatcha Dharga?

The current guideline value for Neelambatcha Dharga (1 To 11 Street) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Neelambatcha Dharga?

Neelambatcha Dharga is classified as Residential Class V Type - III. This classification is important for understanding the type of development allowed in the area.

What are the registration fees for property in Neelambatcha Dharga?

The registration fees include a stamp duty of 7% on the guideline value and a registration fee of 2%. For example, on a 1,000 sq.ft plot, the total guideline value would be Rs 33,00,000, leading to a total fee of Rs 2,97,000.

Where is the Sub Registrar Office located for Neelambatcha Dharga?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. This office handles all registrations for properties in the area.