Guideline Value for NELLIPETTAI 2ND CROSS STREET

Nellipettai 2nd Cross Street guideline value

The current guideline value of Nellipettai 2nd Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Nellipettai 2nd Cross Street has changed

The guideline value for Nellipettai 2nd Cross Street has seen several revisions over the years. Starting with the 2012 revision, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,160 per sq.ft, marking an increase of 8% from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. The most notable change occurred between 2017 and 2023, where the value rose by 49%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is equal to the current guideline value of Nellipettai 2nd Cross Street.

• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellaiyappar 3rd Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 2nd Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Cross Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nellipettai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200. The total cost for these fees would be Rs 1,94,400. 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 more detailed calculations.

Which Sub Registrar Office covers Nellipettai 2nd Cross Street?

The Nellipettai 2nd Cross Street falls under 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 plays a crucial role in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When a property is sold, the guideline value helps to establish a fair price for the transaction. This is particularly important for legal documentation and taxation purposes, as it ensures that both the buyer and seller are aware of the official valuation of the property.

Frequently asked questions

What is the current guideline value of Nellipettai 2nd Cross Street?

The current guideline value of Nellipettai 2nd Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What is the land classification for Nellipettai 2nd Cross Street?

Nellipettai 2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the registration office for this area?

The registration office for Nellipettai 2nd Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 21,60,000 would incur a stamp duty of Rs 1,51,200 at a rate of 7%.