Guideline Value for Nedunchezian Street / Sholavaram Nagar

Nedunchezian Street / Sholavaram Nagar guideline value

The current guideline value for Nedunchezian Street / Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Nedunchezian Street / Sholavaram Nagar has changed

The guideline value for Nedunchezian Street / Sholavaram Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 184 per sq.ft. This increased to Rs 208 per sq.ft in 2003, marking a 13% rise. The value continued to rise, reaching Rs 360 per sq.ft in 2007, which represented a 73% increase from the previous revision. By 2017, the value had surged to Rs 1,206 per sq.ft, reflecting a remarkable 235% increase from 2007. However, there is no figure available for the year 2012 in the register.

In the most recent revisions, the guideline value increased to Rs 1,800 per sq.ft in 2023, which was a 49% rise from 2017. The latest revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 976%.

Guideline values in Pammal

Pammal village features a total of 926 streets under the Pammal SRO, with 2024 guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing the 2024 figure for Nedunchezian Street / Sholavaram Nagar below this median.

• Nedunchalai Street, Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Neelakandan Street (P.N.)/ Ganapathy Nagar: Rs 1,870 per sq.ft (2024)
• Neelamegam Street /LIC Colony: Rs 2,530 per sq.ft (2024)
• Navamani Street/Central Bank Colony: Rs 1,760 per sq.ft (2024)
• Navalar Street / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Nehru Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchezian Street / Sholavaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nedunchezian Street / Sholavaram Nagar?

The Sub Registrar Office that covers Nedunchezian Street / Sholavaram Nagar 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 Pammal

The guideline value is a crucial factor in property transactions within Pammal. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the stamp duty and registration fees.

Understanding the guideline value is essential for buyers and sellers alike, as it affects the overall cost of transactions. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Nedunchezian Street / Sholavaram Nagar?

The current guideline value for Nedunchezian Street / Sholavaram Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly over the years, from Rs 184 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 976%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is above the current value for Nedunchezian Street / Sholavaram Nagar.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in this area is charged at 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office for Nedunchezian Street / Sholavaram Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.