Guideline Value for NEITHAL NAGAR

Neithal Nagar guideline value

The current guideline value of Neithal Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Pazhamathoor village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Neithal Nagar has changed

Since the 2012 revision, the guideline value for Neithal Nagar has remained stable at Rs 400 per sq.ft as of 2024. The 2017 revision recorded a lower value of Rs 268 per sq.ft, which marked a significant increase of 49% to Rs 400 per sq.ft in the 2023 revision. The 2024 revision shows no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Neithal Nagar. The 2012 revision was Rs 400 per sq.ft, and the subsequent change to Rs 268 per sq.ft in 2017 was a decrease of 33% before returning to Rs 400 per sq.ft in the 2023 and 2024 revisions.

Guideline values in Pazhamathoor

Pazhamathoor village has seven streets under the Chengleput Joint II SRO, all carrying a 2024 guideline value ranging from Rs 250 to Rs 400 per sq.ft. Neithal Nagar's 2024 figure is equal to the median of Rs 400 per sq.ft. Below are the guideline values for other streets in Pazhamathoor:

• Mullai Nagar: Rs 400 per sq.ft (2024)
• Marutham Nagar: Rs 400 per sq.ft (2024)
• Kurinjinagar Ext: Rs 400 per sq.ft (2024)
• Kurinjinagar: Rs 400 per sq.ft (2024)
• Sai Ram Nagar: Rs 250 per sq.ft (2024)
• Askar Avenue: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Neithal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, leading to a total of Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neithal Nagar?

Neithal Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Pazhamathoor. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency in property transactions and helps prevent undervaluation.

Frequently asked questions

What is the current guideline value of Neithal Nagar?

The current guideline value of Neithal Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a decrease to Rs 268 per sq.ft in 2017 and an increase back to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for Neithal Nagar?

Neithal Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Neithal Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000.