Guideline Value for NELLIPETTAI CROSS STREET

Nellipettai Cross Street guideline value

The current guideline value of Nellipettai Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nellipettai Cross Street has changed

Over the years, the guideline value for Nellipettai Cross Street has seen several revisions. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, this was followed by a significant increase to Rs 2,000 per sq.ft in the 2023 revision, and the latest revision in 2024 set the value at Rs 2,160 per sq.ft, marking an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision shows an increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nemilicherry

Nemilicherry village has a total of 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 for these streets is Rs 2,160 per sq.ft, which is equal to the 2024 guideline value of Nellipettai Cross Street.

• Nellipettai 2nd 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 Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,160 per sq.ft, the guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total to 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.

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

Which Sub Registrar Office covers Nellipettai Cross Street?

The Sub Registrar Office that covers Nellipettai Cross 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Nellipettai Cross Street?

The current guideline value of Nellipettai 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 back 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 Cross Street?

The land classification for Nellipettai Cross Street is Residential Class II Type - I.

Where can I find the registration office for Nellipettai Cross Street?

The registration office for Nellipettai 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 1,94,400 in fees.