Guideline Value for Neelakantan Street & Lane

Neelakantan Street & Lane guideline value

The current guideline value of Neelakantan Street & Lane is Rs 4,400 per sq.ft. This street is located in Ayanavaram village, under the AnnaNagar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Neelakantan Street & Lane has changed

The guideline value for Neelakantan Street & Lane has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a decline of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Neelakantan Street & Lane. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Neelakantan Street & Lane's 2024 figure below this median.

• N- Block, 27th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 26th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 25th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 23rd Street: Rs 11,000 per sq.ft (2024)
• Netaji Street, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Neelakantan Street & Lane

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 Neelakantan Street & Lane?

The Sub Registrar Office that covers Neelakantan Street & Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Ayanavaram. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. The registration process will require payment of fees based on this value, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Neelakantan Street & Lane?

The current guideline value of Neelakantan Street & Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the land classification for Neelakantan Street & Lane?

Neelakantan Street & Lane is classified as Residential Class II Type - I under the AnnaNagar SRO.

Where can I find the registration office for Neelakantan Street & Lane?

The registration office for Neelakantan Street & Lane is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

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 44,00,000 would incur a stamp duty of Rs 3,08,000 at 7%.