Guideline Value for NEELAMEGAM ST

Neelamegam St guideline value

The current guideline value of Neelamegam St in Paleripattu village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Avadi Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Neelamegam St has changed

The guideline value for Neelamegam St has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 900 per sq.ft, and the latest 2024 revision has raised it to Rs 990 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paleripattu

Paleripattu village has a total of 111 streets under the Avadi SRO with a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value of Neelamegam St.

• Natesan Nagar Phase I: Rs 2,200 per sq.ft (2024)
• Nakkeeran: Rs 990 per sq.ft (2024)
• Muthukrishnan St: Rs 990 per sq.ft (2024)
• N.S.K.1st Main Road: Rs 990 per sq.ft (2024)
• N.S.K.Street: Rs 990 per sq.ft (2024)
• M.P.S.St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Neelamegam St

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total cost of Rs 89,100. 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 further calculations.

Which Sub Registrar Office covers Neelamegam St?

The Neelamegam St falls under the jurisdiction of the Avadi Sub Registrar Office located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for buying or selling property in Paleripattu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are paid. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Neelamegam St?

The current guideline value of Neelamegam St is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the other streets in Paleripattu with their guideline values?

Other streets in Paleripattu include Natesan Nagar Phase I at Rs 2,200 per sq.ft, Nakkeeran, Muthukrishnan St, N.S.K.1st Main Road, N.S.K.Street, and M.P.S.St, all at Rs 990 per sq.ft.

What is the registration fee for properties in Neelamegam St?

The registration fee for properties in Neelamegam St is calculated based on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the registration fee would be Rs 19,800 at a rate of 2%.

Which office handles the registration for Neelamegam St?

The Avadi Sub Registrar Office handles the registration for Neelamegam St, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.