Guideline Value for NELLAIPETTAI HIGH ROAD

Nellaipettai High Road guideline value

The current guideline value of Nellaipettai High Road is Rs 2,420 per sq.ft, effective from 1 July 2024. This road is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nellaipettai High Road has changed

The guideline value for Nellaipettai High Road has undergone several revisions over the years. The earliest recorded value was Rs 2,200 per sq.ft in 2012. This figure saw a significant decrease of 33% to Rs 1,474 per sq.ft in 2017. Following this, the value increased by 49% to Rs 2,200 per sq.ft in 2023, and then rose by 10% to the current value of Rs 2,420 per sq.ft in 2024.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Nellaipettai High Road. 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, with guideline values 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 Nellaipettai High Road's 2024 figure above this median.

• Nellaiappar Street: 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 Nellaipettai High Road

For a 1,000 sq.ft plot at the current rate of Rs 2,420 per sq.ft, the guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. 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 more detailed calculations.

Which Sub Registrar Office covers Nellaipettai High Road?

The Sub Registrar Office that covers Nellaipettai High Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Nellaipettai High Road?

The current guideline value of Nellaipettai High Road 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 2012 to Rs 1,474 per sq.ft in 2017, then to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,420 per sq.ft in 2024.

What is the median guideline value in Nemilicherry?

The median guideline value for the 172 streets in Nemilicherry is Rs 2,160 per sq.ft, with Nellaipettai High Road's current value above this median.

What are the stamp duty and registration fees for property in Nellaipettai High Road?

For a property valued at Rs 24,20,000, the stamp duty is Rs 1,69,400 and the registration fee is Rs 48,400, totaling Rs 2,17,800.

Which office handles property registrations for Nellaipettai High Road?

The Pallavaram Sub Registrar Office handles property registrations for Nellaipettai High Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.