Guideline Value for Nedunchalai

Nedunchalai guideline value

The current guideline value of Nedunchalai, located in Madavilagam village under the Poonamallee SRO, is Rs 1,100 per sq.ft. This value is effective from the 1st of July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Nedunchalai has changed

The guideline value for Nedunchalai has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 300%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in the 2023 revision, and in the latest 2024 revision, it reached Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a guideline value for 2024, ranging from Rs 660 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current value for Nedunchalai.

• M.G.R.nagar: Rs 660 per sq.ft (2024)
• Pillaiyar koil street: Rs 1,100 per sq.ft (2024)
• Madavilagam arijanna colony 108/2: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/4: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/3: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/1: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchalai

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, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nedunchalai?

The Sub Registrar Office covering Nedunchalai is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madavilagam. It is used to determine the stamp duty and registration fees that are applicable based on the property’s value at the time of transaction.

When a property is registered, the guideline value serves as a benchmark to ensure that the transaction is documented accurately. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nedunchalai?

The current guideline value of Nedunchalai 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 changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the guideline values for other streets in Madavilagam?

Other streets in Madavilagam have varying guideline values, with rates ranging from Rs 660 to Rs 2,200 per sq.ft. The median for these streets is Rs 1,100 per sq.ft.

What are the stamp duty and registration fees for property in Nedunchalai?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Nedunchalai?

The Poonamallee Sub Registrar Office covers Nedunchalai, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.