Guideline Value for NEMILI PARK

Nemili Park guideline value

The current guideline value of Nemili Park is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Irunkattukottai_B village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Nemili Park has changed

The guideline value for Nemili Park has undergone several revisions over the years. The 2017 revision set the value at Rs 536 per sq.ft, which remained unchanged at Rs 800 per sq.ft in the 2023 revision. The 2024 revision has also maintained the value at Rs 800 per sq.ft, resulting in a 49% increase from the 2017 figure to the current rate.

It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street. The consistent value of Rs 800 per sq.ft from 2023 to 2024 indicates no change during that period.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,200 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Nemili Park is above this median.

• Nehru Street: Rs 600 per sq.ft (2024)
• N.H.Salai: Rs 1,200 per sq.ft (2024)
• M.G.R.Street: Rs 250 per sq.ft (2024)
• Meenakshi Amman Nagar: Rs 600 per sq.ft (2024)
• Mecca Nagar: Rs 600 per sq.ft (2024)
• Periyar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Nemili Park

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Nemili Park?

The Sub Registrar Office covering Nemili Park is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Irunkattukottai_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Nemili Park?

The current guideline value of Nemili Park is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in both 2023 and 2024, representing a 49% increase overall.

What is the land classification of Nemili Park?

Nemili Park is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Nemili Park?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000, and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where is the Sub Registrar Office for Nemili Park located?

The Sub Registrar Office for Nemili Park is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.