Guideline Value for NELLAIAPPAR STREET

Nellaiappar Street guideline value

The current guideline value of Nellaiappar Street in Nemilicherry village, under the Pallavaram SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Nellaiappar Street has changed

The guideline value for Nellaiappar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,474 per sq.ft. The 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,420 per sq.ft, marking a 10% increase from the previous year.

It is noteworthy that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, placing Nellaiappar Street's 2024 figure above this median.

• Nellaipettai High Road: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 2nd Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 3rd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nellaiappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost for these fees to Rs 2,17,800. 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 Nellaiappar Street?

The Sub Registrar Office that covers Nellaiappar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which means that understanding the guideline value is essential for accurate financial planning during a property transaction.

Frequently asked questions

What is the current guideline value of Nellaiappar Street?

The current guideline value of Nellaiappar Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,420 per sq.ft in 2024, showing a 10% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, indicating fluctuations over the years.

What is the land classification of Nellaiappar Street?

Nellaiappar Street is classified as Residential Class I Type - I, which defines its use and development potential.

Where can I find the Sub Registrar Office for Nellaiappar Street?

The Sub Registrar Office for Nellaiappar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nellaiappar Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 24,20,000, the stamp duty at 7% would be Rs 1,69,400.