Guideline Value for NEITHAL

Neithal guideline value

The current guideline value of Neithal, located in Ernavur village under the Thiruvottiyur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Neithal has changed

Over the years, the guideline value of Neithal has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in 2017. In 2023, the value increased to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,800 per sq.ft.

From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a rise of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, positioning Neithal's 2024 figure above this median.

• Nethaji Nagar: Rs 1,600 per sq.ft (2024)
• Nethal Nagar(TNHB): Rs 3,300 per sq.ft (2024)
• New Colony: Rs 1,400 per sq.ft (2024)
• Palagai Thottikuppam: Rs 1,400 per sq.ft (2024)
• MURUGAPPA NAGAR (V.O.C. Street): Rs 1,800 per sq.ft (2024)
• MURUGAPPA NAGAR (Thiruvalluvar Street): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Neithal

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Neithal?

The Sub Registrar Office that covers Neithal is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Ernavur. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. This ensures that the government collects the appropriate taxes based on the assessed value of the property.

When registering a property, buyers and sellers must consider the guideline value to determine the total costs involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Neithal?

The current guideline value of Neithal is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,500 in 2012 to Rs 2,345 in 2017, then back to Rs 3,500 in 2023, and finally to Rs 3,800 in 2024.

What is the land classification of Neithal?

Neithal is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in Neithal?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations in Neithal?

The Thiruvottiyur Sub Registrar Office handles property registrations in Neithal, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.