Guideline Value for NELVAYAL SALAI

Nelvayal Salai guideline value

The current guideline value of Nelvayal Salai is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Nelvayal Salai has changed

The guideline value for Nelvayal Salai has seen significant changes over the years. In 2002, the value was Rs 604 per sq.ft, which increased to Rs 663 per sq.ft in 2003, marking a 10% rise. The value continued to grow, reaching Rs 1,100 per sq.ft in 2007, a 66% increase from the previous year. By 2017, the value had jumped to Rs 3,015 per sq.ft, reflecting a remarkable 174% increase from 2007. The 2023 revision set the value at Rs 4,500 per sq.ft, a 49% increase from 2017. The current value of Rs 4,900 per sq.ft, effective from July 2024, represents a 9% increase from the previous year.

There is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 711%.

Guideline values in Perambur

In Perambur, the guideline values vary significantly, with the 2024 figures for 1,114 streets under the Purasaivakkam SRO ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing the value of Nelvayal Salai above this median.

• Nelvayal Road Lane: Rs 4,400 per sq.ft (2024)
• Nelvayal Road 2nd Lane: 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 Salai

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, charged at 7%, would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, these fees would total Rs 4,41,000. It is important to note that 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 Salai?

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

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 to determine the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the seller and buyer must consider the guideline value, as it affects the stamp duty and registration fees. These fees are calculated based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nelvayal Salai?

The current guideline value of Nelvayal Salai 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 increased significantly from Rs 604 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, representing an overall increase of 711%.

What are the stamp duty rates for properties in Nelvayal Salai?

The stamp duty rate for properties in Nelvayal Salai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nelvayal Salai located?

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

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur under the Purasaivakkam SRO is Rs 2,700 per sq.ft, with Nelvayal Salai's value being above this median.