Guideline Value for NELVAYAL ROAD 1ST LANE

Nelvayal Road 1st Lane guideline value

The current guideline value of Nelvayal Road 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO and is classified as Residential Class I Type - II.

How the guideline value of Nelvayal Road 1st Lane has changed

The guideline value for Nelvayal Road 1st Lane has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a significant rise of 174%. Following that, the value rose to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, representing a 9% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 345%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Nelvayal Road 1st Lane above that median with its current guideline value of Rs 4,900 per sq.ft.

• Nelvayal Road 2nd Lane: Rs 4,900 per sq.ft (2024)
• Nelvayal Road Lane: Rs 4,400 per sq.ft (2024)
• Nelvayal Salai: Rs 4,900 per sq.ft (2024)
• Neruji 1st Street: Rs 2,700 per sq.ft (2024)
• Neruji 2nd Street: Rs 2,700 per sq.ft (2024)
• Neruji 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nelvayal Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost for these fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nelvayal Road 1st Lane?

The Sub Registrar Office that covers Nelvayal Road 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

Frequently asked questions

What is the current guideline value of Nelvayal Road 1st Lane?

The current guideline value of Nelvayal Road 1st Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 345%.

What is the land classification for Nelvayal Road 1st Lane?

Nelvayal Road 1st Lane is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for property registration?

The Sub Registrar Office for Nelvayal Road 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Nelvayal Road 1st Lane?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000.