Guideline Value for Nedunchizhiyan Nagar(Hut)

Nedunchizhiyan Nagar(Hut) guideline value

The current guideline value of Nedunchizhiyan Nagar(Hut) is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Chindadripet village under the Periamet SRO and is classified as Residential Class IV Type - I.

How the guideline value of Nedunchizhiyan Nagar(Hut) has changed

The guideline value for Nedunchizhiyan Nagar(Hut) has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,541 per sq.ft, before rising again to Rs 2,300 per sq.ft in 2023, and finally reaching Rs 2,500 per sq.ft in the 2024 revision.

From 2023 to 2024, there was an increase of 9%. The value rose by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 283%. Overall, from 2007 to 2024, the guideline value has increased by 317%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Nedunchizhiyan Nagar(Hut) is below this median.

• Navalar Neduncheziyan Nagar Lanes Slum: Rs 2,500 per sq.ft (2024)
• Navalar Neduncheziyan Nagar Fire Proof House: Rs 2,500 per sq.ft (2024)
• Navalar Neduncheziyan Nagar Coovam River Side: Rs 2,500 per sq.ft (2024)
• New balakrishna Pillai street: Rs 2,500 per sq.ft (2024)
• New Bungalow Street: Rs 4,900 per sq.ft (2024)
• Nagamani Mudali street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunchizhiyan Nagar(Hut)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total cost for these fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nedunchizhiyan Nagar(Hut)?

The Sub Registrar Office that covers Nedunchizhiyan Nagar(Hut) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chindadripet. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the guideline value is used to calculate stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nedunchizhiyan Nagar(Hut)?

The current guideline value of Nedunchizhiyan Nagar(Hut) is Rs 2,500 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 2,500 per sq.ft in 2024, showing an overall increase of 317% over the years.

What is the land classification of Nedunchizhiyan Nagar(Hut)?

Nedunchizhiyan Nagar(Hut) is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office located for this area?

The Periamet Sub Registrar Office is located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated in Chindadripet?

Stamp duty in Chindadripet is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.