Guideline Value for Neelakanda Siva Nagar

Neelakanda Siva Nagar guideline value

The current guideline value of Neelakanda Siva Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Pillaippakkam-A village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Neelakanda Siva Nagar has changed

The guideline value for Neelakanda Siva Nagar has remained stable at Rs 200 per sq.ft since the 2023 revision. Prior to that, in the 2017 revision, the guideline value was Rs 134 per sq.ft, marking a significant increase of 49% over the six-year period from 2017 to 2023.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 49%.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for these streets is Rs 300 per sq.ft, making the guideline value of Neelakanda Siva Nagar below that median.

• Om Namachivaya Nagar: Rs 1,254 per sq.ft (2024)
• Palla Street: Rs 100 per sq.ft (2024)
• Mettu Street: Rs 200 per sq.ft (2024)
• Pattukottai Azhagiri Nagar: Rs 300 per sq.ft (2024)
• Peyaridappadatha Manaipirivu: Rs 344 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Neelakanda Siva Nagar

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Neelakanda Siva Nagar?

The Sub Registrar Office that covers Neelakanda Siva Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value plays a crucial role during the registration of property transactions in Pillaippakkam-A. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented.

When buying or selling property, the guideline value is compared to the sale price; the higher of the two is used to calculate the applicable fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Neelakanda Siva Nagar?

The current guideline value of Neelakanda Siva Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2023 to 2024, and it increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, representing a 49% increase over that period.

What is the median guideline value in Pillaippakkam-A?

The median guideline value in Pillaippakkam-A is Rs 300 per sq.ft, with Neelakanda Siva Nagar's value being below this median.

What are the stamp duty and registration fees for property in Neelakanda Siva Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft, the total stamp duty and registration fees would amount to Rs 18,000, based on the current rates.

Which office handles property registrations for Neelakanda Siva Nagar?

The Sriperumpudur Sub Registrar Office handles property registrations for Neelakanda Siva Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.