Guideline Value for NERKUNDRAM PATHAI

Nerkundram Pathai guideline value

The current guideline value of Nerkundram Pathai is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Nerkundram Pathai has changed

Starting from the 2003 revision, the guideline value was Rs 931 per sq.ft. It saw a significant increase in the 2007 revision to Rs 1,400 per sq.ft, which represented a 50% rise. The 2012 revision maintained the value at Rs 5,800 per sq.ft, showing no change from the previous revision. In 2023, the value remained at Rs 5,800 per sq.ft. However, the most recent 2024 revision increased the value to Rs 6,300 per sq.ft, marking a 9% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 577%. Notably, there are no figures available for the years 2002 and 2017 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Nerkundram Pathai's 2024 figure above this median.

• Nerkundram 1st Cross Street: Rs 5,000 per sq.ft (2024)
• Nelson Manickam Road: Rs 11,000 per sq.ft (2024)
• Nehru Street (Choolaimedu High Road East Side): Rs 5,300 per sq.ft (2024)
• Nehru Street (Anna Nedumpathai Left Side): Rs 5,000 per sq.ft (2024)
• New Arockiasamy Street: Rs 3,800 per sq.ft (2024)
• Neelakandan Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nerkundram Pathai

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees to Rs 5,67,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Nerkundram Pathai?

The Sub Registrar Office that covers Nerkundram Pathai is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Puliyur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value helps establish the official value of the property for taxation purposes. This ensures that the appropriate fees are collected based on the established rates set by the government.

Frequently asked questions

What is the current guideline value of Nerkundram Pathai?

The current guideline value of Nerkundram Pathai is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 931 per sq.ft in 2003 to Rs 6,300 per sq.ft in 2024, marking an overall increase of 577% over this period.

What is the land classification for Nerkundram Pathai?

Nerkundram Pathai is classified as Residential Special Type - III, indicating its intended use for residential purposes.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Nerkundram Pathai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 63,00,000 would incur a stamp duty of Rs 4,41,000 at a rate of 7%.