Guideline Value for Nedunchezhiyan Nagar Main Road

Nedunchezhiyan Nagar Main Road guideline value

The current guideline value of Nedunchezhiyan Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024. This road is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nedunchezhiyan Nagar Main Road has changed

Looking at the revisions, the guideline value for Nedunchezhiyan Nagar Main Road was Rs 1,200 per sq.ft in the 2012 revision. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the guideline value of Nedunchezhiyan Nagar Main Road below that median.

• Navalar Road: Rs 1,300 per sq.ft (2024)
• Navalar Lane: Rs 1,300 per sq.ft (2024)
• Nehru Nagar Main Road: Rs 1,300 per sq.ft (2024)
• Nataraja Street: Rs 1,300 per sq.ft (2024)
• Nehru Street(Moopanar Nagar): Rs 1,300 per sq.ft (2024)
• Nehuru Nagar 10th street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezhiyan Nagar Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000. It is important to note that 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 information on fees.

Which Sub Registrar Office covers Nedunchezhiyan Nagar Main Road?

The Nedunchezhiyan Nagar Main Road falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable when buying or selling property.

When a property transaction occurs, the guideline value is used to determine the taxes owed, ensuring that both buyers and sellers are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nedunchezhiyan Nagar Main Road?

The current guideline value of Nedunchezhiyan Nagar Main Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8%. There were no recorded figures for the years 2002, 2003, 2007, and 2017.

What are the stamp duty and registration fees for properties in this area?

The stamp duty for a property valued at Rs 13,00,000 would be Rs 91,000, while the registration fee would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Royapuram Sub Registrar Office covers Nedunchezhiyan Nagar Main Road, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Nedunchezhiyan Nagar Main Road?

The land classification for Nedunchezhiyan Nagar Main Road is Residential Class II Type - I. This classification is important for understanding the permissible uses of the land.