Guideline Value for NERU NAGER KILALKARTA STREET

Neru Nager Kilalkarta Street guideline value

The current guideline value of Neru Nager Kilalkarta Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Neru Nager Kilalkarta Street has changed

The guideline value for Neru Nager Kilalkarta Street has seen several revisions over the years. The earliest recorded value was Rs 60 per sq.ft in 2007, which increased significantly to Rs 500 per sq.ft in 2012. However, this value then decreased to Rs 335 per sq.ft in 2017. Following this, the value remained stable at Rs 500 per sq.ft in both 2023 and the upcoming 2024 revision, showing no change from the previous year.

In summary, the changes between the revisions include a 733% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 733%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 750 per sq.ft, indicating that the guideline value for Neru Nager Kilalkarta Street is below this median.

• Neru Nager Karikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Kusnikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Balavinagar Street: Rs 500 per sq.ft (2024)
• Neru Nager Madha Koil Street: Rs 750 per sq.ft (2024)
• Neru Kavadikara Street: Rs 750 per sq.ft (2024)
• Neru Nager Savarimuthu Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Neru Nager Kilalkarta Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neru Nager Kilalkarta Street?

The Sub Registrar Office that covers Neru Nager Kilalkarta Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Walajabad. 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 helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration and the applicable duties.

Frequently asked questions

What is the current guideline value of Neru Nager Kilalkarta Street?

The current guideline value of Neru Nager Kilalkarta Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, decreased to Rs 335 per sq.ft in 2017, and remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Neru Nager Kilalkarta Street?

The land classification for Neru Nager Kilalkarta Street is Residential Class I Type - III.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Walajabad?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.