Guideline Value for Nalloor Melandai Street

Nalloor Melandai Street guideline value

The current guideline value of Nalloor Melandai Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nalloor Melandai Street has changed

The guideline value for Nalloor Melandai Street has experienced several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 600% rise. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, representing a decline of 33%. The value then rose again to Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

There are no figures available for the revisions in 2002 and 2003 for Nalloor Melandai Street. Overall, from 2007 to 2024, the guideline value has increased by 600%.

Guideline values in Uthiramerur

In Uthiramerur, there are a total of 180 streets under the Uthiramerur SRO, with guideline values ranging from Rs 200 to Rs 1,800 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, placing Nalloor Melandai Street's 2024 figure below that median.

• Nalloor Kizhandai street: Rs 700 per sq.ft (2024)
• Nalloor Kalani: Rs 700 per sq.ft (2024)
• Naloor Kulakkarai: Rs 700 per sq.ft (2024)
• Narasima Nagar: Rs 700 per sq.ft (2024)
• Neeradi Battai Street: Rs 700 per sq.ft (2024)
• Neeradi East Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nalloor Melandai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nalloor Melandai Street?

The Sub Registrar Office that covers Nalloor Melandai Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Uthiramerur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value of the property for legal and tax purposes. It helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nalloor Melandai Street?

The current guideline value of Nalloor Melandai Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017. It returned to Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification for Nalloor Melandai Street?

Nalloor Melandai Street is classified as Residential Class III Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Nalloor Melandai Street?

The Sub Registrar Office for Nalloor Melandai Street is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is stamp duty calculated for property in Nalloor Melandai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.