Guideline Value for Neduchalai Street

Neduchalai Street guideline value

The current guideline value of Neduchalai Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kavulbazaar village, under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Neduchalai Street has changed

The guideline value for Neduchalai Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase from Rs 1,000 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 670 per sq.ft. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, it has risen by a total of 64%. The change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Kavulbazaar

Kavulbazaar village has 44 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 825 to Rs 4,500 per sq.ft. The median guideline value in this village is Rs 825 per sq.ft, making Neduchalai Street's 2024 figure of Rs 1,100 per sq.ft above that median.

• Napc Sudarma: Rs 1,100 per sq.ft (2024)
• Moovar Nagar: Rs 825 per sq.ft (2024)
• M.L.R Street: Rs 825 per sq.ft (2024)
• MGR Street: Rs 825 per sq.ft (2024)
• Mariamman Koil Street: Rs 825 per sq.ft (2024)
• Manivannan Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Neduchalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neduchalai Street?

The Sub Registrar Office that covers Neduchalai Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kavulbazaar. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are compliant with local regulations.

It is important for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. The registration office refers to the guideline value register to establish the fees due at the time of registration.

Frequently asked questions

What is the current guideline value of Neduchalai Street?

The current guideline value of Neduchalai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over the years.

What are the other streets in Kavulbazaar with their guideline values?

Other streets in Kavulbazaar include Napc Sudarma at Rs 1,100 per sq.ft, and several streets like Moovar Nagar, M.L.R Street, MGR Street, Mariamman Koil Street, and Manivannan Nagar at Rs 825 per sq.ft.

What fees are associated with buying property in Neduchalai Street?

When buying property in Neduchalai Street, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Where can I find the Sub Registrar Office for Neduchalai Street?

The Sub Registrar Office for Neduchalai Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.