Guideline Value for Neelakandan Street (P.N.)/ Ganapathy Nagar

Neelakandan Street (P.N.)/ Ganapathy Nagar guideline value

The current guideline value of Neelakandan Street (P.N.)/ Ganapathy Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Neelakandan Street (P.N.)/ Ganapathy Nagar has changed

The guideline value for Neelakandan Street (P.N.)/ Ganapathy Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 169 per sq.ft, which increased to Rs 191 per sq.ft in 2003. The value then rose to Rs 350 per sq.ft in 2007, marking an increase of 83%. By 2017, the guideline value had jumped to Rs 1,139 per sq.ft, reflecting a substantial increase of 225%. The 2023 revision set the value at Rs 1,700 per sq.ft, which was a 49% increase from 2017. The latest revision in 2024 has raised the guideline value to Rs 1,870 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figure for Neelakandan Street (P.N.)/ Ganapathy Nagar in 2012. Overall, from 2002 to 2024, the guideline value has increased by 1007%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, 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 Neelakandan Street (P.N.)/ Ganapathy Nagar below this median.

• Neelamegam Street /LIC Colony: Rs 2,530 per sq.ft (2024)
• Nedunchezian Street / Sholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Nedunchalai Street, Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Nehru Nagar: Rs 1,980 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)

Stamp duty and registration fee for property in Neelakandan Street (P.N.)/ Ganapathy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. 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 Neelakandan Street (P.N.)/ Ganapathy Nagar?

The Sub Registrar Office that covers Neelakandan Street (P.N.)/ Ganapathy 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 details.

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

The guideline value plays a crucial role in the registration of property transactions in Pammal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it directly affects the financial obligations during the property transaction process. The guideline value is regularly updated to reflect changes in the market and local conditions.

Frequently asked questions

What is the current guideline value of Neelakandan Street (P.N.)/ Ganapathy Nagar?

The current guideline value of Neelakandan Street (P.N.)/ Ganapathy Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 169 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 1007% over the years.

What is the land classification for Neelakandan Street (P.N.)/ Ganapathy Nagar?

The land classification for Neelakandan Street (P.N.)/ Ganapathy Nagar is Residential Class III Type - I.

Where can I find the Sub Registrar Office for Neelakandan Street (P.N.)/ Ganapathy Nagar?

The Sub Registrar Office for Neelakandan Street (P.N.)/ Ganapathy Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property transactions?

Stamp duty 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 18,70,000, the stamp duty would be Rs 1,30,900 at 7%.