Guideline Value for Neelathottam 3rd Street

Neelathottam 3rd Street guideline value

The current guideline value of Neelathottam 3rd 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Neelathottam 3rd Street has changed

The guideline value for Neelathottam 3rd Street has undergone several revisions over the years. In 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 213% increase. However, it then decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. 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 with a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is equal to the guideline value of Neelathottam 3rd Street.

• Neelathottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 4th Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 1st 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 3rd 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, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Neelathottam 3rd Street?

Neelathottam 3rd Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sembiam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Neelathottam 3rd Street?

The current guideline value of Neelathottam 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 2,700 per sq.ft in 2024, marking a total increase of 238% over the period.

What are the stamp duty and registration fees for property in Neelathottam 3rd Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Neelathottam 3rd Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Neelathottam 3rd Street.

What is the land classification for Neelathottam 3rd Street?

Neelathottam 3rd Street falls under the Residential Class I Type - I land classification.