Guideline Value for Nedunchezhiyan Street

Nedunchezhiyan Street guideline value

The current guideline value of Nedunchezhiyan Street is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village, under the Redhills SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Nedunchezhiyan Street has changed

The guideline value for Nedunchezhiyan Street has undergone several revisions over the years. The earliest recorded figure is Rs 171 per sq.ft from the 2003 revision. The value increased significantly to Rs 400 per sq.ft in 2007, marking a 134% rise. In 2012, the value remained at Rs 700 per sq.ft, showing no change. However, it dropped to Rs 469 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose to Rs 700 per sq.ft in 2023, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, representing a 10% increase.

There is no recorded guideline value for Nedunchezhiyan Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 350%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Nedunchezhiyan Street.

• Nehru Street: Rs 770 per sq.ft (2024)
• Nethaji Nagar: Rs 770 per sq.ft (2024)
• Nethaji Street: Rs 1,320 per sq.ft (2024)
• Muthu Mari Amman Street: Rs 770 per sq.ft (2024)
• N.S.C. Bose Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Munuswamy Koil Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezhiyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. 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 details.

Which Sub Registrar Office covers Nedunchezhiyan Street?

The Sub Registrar Office that covers Nedunchezhiyan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are conducted at fair values as per government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Nedunchezhiyan Street?

The current guideline value of Nedunchezhiyan Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, which is a 350% increase over the years.

What is the median guideline value for streets in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, which is the same as the guideline value for Nedunchezhiyan Street.

What are the stamp duty and registration fees for a property on Nedunchezhiyan Street?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Nedunchezhiyan Street located?

The Sub Registrar Office for Nedunchezhiyan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.