Guideline Value for Nedunchezhiyan Street

Nedunchezhiyan Street guideline value

The current guideline value of Nedunchezhiyan Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, and it is classified as Residential Special Type - I.

How the guideline value of Nedunchezhiyan Street has changed

The guideline value for Nedunchezhiyan Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 1,474 per sq.ft. The 2023 revision saw a substantial increase to Rs 2,200 per sq.ft, followed by a further increase to Rs 2,400 per sq.ft in the 2024 revision, marking a 9% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Nedunchezhiyan Street's 2024 value above this median.

• Nathamuni Street (Pudur): Rs 1,600 per sq.ft (2024)
• Nathamuni Street (1st Ward): Rs 1,600 per sq.ft (2024)
• Natesa pillai Street: Rs 1,900 per sq.ft (2024)
• Nehru Salai (S.V.Nagar): Rs 1,900 per sq.ft (2024)
• Narayanasamy Street: Rs 2,400 per sq.ft (2024)
• Nehru Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezhiyan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. Please 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 details.

Which Sub Registrar Office covers Nedunchezhiyan Street?

The Sub Registrar Office that covers Nedunchezhiyan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, preventing undervaluation. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Nedunchezhiyan Street?

The current guideline value of Nedunchezhiyan Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

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

Other streets in Oragadam include Nathamuni Street (Pudur) and Nathamuni Street (1st Ward) at Rs 1,600 per sq.ft, Natesa pillai Street and Nehru Salai (S.V.Nagar) at Rs 1,900 per sq.ft, and Narayanasamy Street and Nehru Street (Vinayagapuram) at Rs 2,400 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Nedunchezhiyan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.