Guideline Value for NEELAMBATCHA DHARGA

Neelambatcha Dharga guideline value

The current guideline value of Neelambatcha Dharga 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 has changed

Since the 2012 revision, the guideline value for Neelambatcha Dharga has seen an increase of 10%. The 2012 revision registered the value at Rs 3,000 per sq.ft, which remained unchanged in the 2023 revision. The 2023 revision recorded the value at Rs 3,000 per sq.ft, and the latest 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Thus, the only recorded revisions are from 2012, 2023, and 2024.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Neelambatcha Dharga's 2024 figure below this median.

• Neelambatcha Dharga (1 To 11 Street): 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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 accurate calculations.

Which Sub Registrar Office covers Neelambatcha Dharga?

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 factor in the registration process of property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Neelambatcha Dharga?

The current guideline value of Neelambatcha Dharga is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

From 2012 to 2024, the guideline value increased by 10%, from Rs 3,000 per sq.ft to Rs 3,300 per sq.ft. There was no change in the value from 2012 to 2023.

What are the stamp duty and registration fees for property in Neelambatcha Dharga?

The stamp duty for a property valued at Rs 33,00,000 would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Neelambatcha Dharga?

The Mylapore Sub Registrar Office covers Neelambatcha Dharga. It is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Neelambatcha Dharga?

Neelambatcha Dharga is classified as Residential Class V Type - III, indicating its designation for residential purposes within the Mylapore area.