Guideline Value for NELVAYAL ROAD LANE

Nelvayal Road Lane guideline value

The current guideline value of Nelvayal Road Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Commercial Class I Type - II.

How the guideline value of Nelvayal Road Lane has changed

Over the years, the guideline value of Nelvayal Road Lane has seen significant changes. The 2007 revision recorded a value of Rs 1,100 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 264%. However, from 2012 to 2017, there was a decrease to Rs 2,680 per sq.ft, a drop of 33%. The value then increased again to Rs 4,000 per sq.ft in 2023, followed by a further rise to the current Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Perambur

In Perambur, 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, with a median value of Rs 2,700 per sq.ft. The guideline value of Nelvayal Road Lane is above this median.

• Nelvayal Road 2nd Lane: Rs 4,900 per sq.ft (2024)
• Nelvayal Salai: Rs 4,900 per sq.ft (2024)
• Nelvayal Road 1st Lane: 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 Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nelvayal Road Lane?

The Sub Registrar Office that covers Nelvayal Road 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 minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately in accordance with state regulations.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the actual sale price, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nelvayal Road Lane?

The current guideline value of Nelvayal Road Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,100 per sq.ft to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 300% over this period.

What are the other streets in Perambur with similar guideline values?

Other streets in Perambur with similar guideline values include Nelvayal Road 2nd Lane, Nelvayal Salai, and Nelvayal Road 1st Lane, all valued at Rs 4,900 per sq.ft in 2024.

What is the registration fee for buying property in Nelvayal Road Lane?

The registration fee for property in Nelvayal Road Lane is calculated at 2% of the guideline value, which would be Rs 88,000 for a 1,000 sq.ft plot at the current rate.

Which office handles property registrations for Nelvayal Road Lane?

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