Guideline Value for Neelathottam 1st Street

Neelathottam 1st Street guideline value

The current guideline value of Neelathottam 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Neelathottam 1st Street has changed

The guideline value for Neelathottam 1st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which then increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, the value decreased to Rs 1,675 per sq.ft in the 2017 revision, a drop of 33%. The following revision in 2023 saw the value rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for Neelathottam 1st Street in the revisions for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 238%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Neelathottam 1st Street.

• Neelathottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 4th Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 5th Street: Rs 2,700 per sq.ft (2024)
• Nataraja Koil Street: Rs 2,700 per sq.ft (2024)
• Murugesan Gramani Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Neelathottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Neelathottam 1st Street?

The Sub Registrar Office that covers Neelathottam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an essential factor when registering a property in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are based on this value or the sale price, whichever is higher. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Neelathottam 1st Street?

The current guideline value of Neelathottam 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What are the other streets with the same guideline value in Sembiam?

Other streets in Sembiam that share the same guideline value of Rs 2,700 per sq.ft include Neelathottam 2nd Street, Neelathottam 3rd Street, Neelathottam 4th Street, Neelathottam 5th Street, Nataraja Koil Street, and Murugesan Gramani Street.

What is the stamp duty for property in Neelathottam 1st Street?

The stamp duty for property in Neelathottam 1st Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

Where can I find the Sub Registrar Office for Neelathottam 1st Street?

The Sub Registrar Office for Neelathottam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.