Guideline Value for NELVAYAL ROAD 2ND LANE

Nelvayal Road 2nd Lane guideline value

The current guideline value of Nelvayal Road 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Nelvayal Road 2nd Lane has changed

The guideline value for Nelvayal Road 2nd Lane has seen several revisions over the years. The 2017 revision set the value at Rs 3,015 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2023 revision, marking a significant increase of 49%. The most recent 2024 revision raised the guideline value to Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with 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 2nd Lane above this median.

• Nelvayal Road 1st 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 2nd 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 to Rs 4,41,000. 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 details.

Which Sub Registrar Office covers Nelvayal Road 2nd Lane?

The Sub Registrar Office that covers Nelvayal Road 2nd Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. 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 government.

When a property is sold, the guideline value helps in assessing the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, as it prevents undervaluation of properties during registration.

Frequently asked questions

What is the current guideline value of Nelvayal Road 2nd Lane?

The current guideline value of Nelvayal Road 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,015 per sq.ft in 2017 to Rs 4,500 per sq.ft in 2023, and then to Rs 4,900 per sq.ft in 2024. This reflects an overall increase of 63% from 2017 to 2024.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Nelvayal Road 2nd Lane's value being above this median.

What are the stamp duty and registration fees for property in Nelvayal Road 2nd Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000. The stamp duty is Rs 3,43,000 and the registration fee is Rs 98,000, totaling Rs 4,41,000.

Which office handles property registration for Nelvayal Road 2nd Lane?

The Purasaivakkam Sub Registrar Office handles property registration for Nelvayal Road 2nd Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.