Guideline Value for Nedunsalai

Nedunsalai guideline value

The current guideline value for Nedunsalai, located in Udaiyavarkoil village under the Poonamallee SRO, is Rs 990 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Nedunsalai has changed

The guideline value for Nedunsalai has seen several revisions over the years. In 2003, the value was Rs 201 per sq.ft, which increased to Rs 225 per sq.ft in 2007. The 2012 revision saw a significant rise to Rs 900 per sq.ft, but this was followed by a decrease to Rs 603 per sq.ft in 2017. The value then increased again to Rs 900 per sq.ft in 2023, and finally, it reached Rs 990 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 300%. Overall, from 2003 to 2024, the guideline value has increased by 393%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Nedunsalai's 2024 figure above this median.

• Othandeeswarar Nagar: Rs 550 per sq.ft (2024)
• Mudthal board school varai: Rs 990 per sq.ft (2024)
• Ms Nagar: Rs 825 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 825 per sq.ft (2024)
• Lakshmi nagar: Rs 550 per sq.ft (2024)
• Rajarathinam salai: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunsalai

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800. Together, the total cost for stamp duty and registration would be Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nedunsalai?

The Sub Registrar Office that covers Nedunsalai is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Udaiyavarkoil. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Nedunsalai?

The current guideline value of Nedunsalai is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, showing an overall increase of 393% over this period.

What is the land classification for Nedunsalai?

The land classification for Nedunsalai is Residential Special Type - I.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Nedunsalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 9,90,000 would incur a stamp duty of Rs 69,300 at a rate of 7%.