Guideline Value for Neelathottam 4th Street

Neelathottam 4th Street guideline value

The current guideline value of Neelathottam 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Neelathottam 4th Street has changed

Over the years, the guideline value of Neelathottam 4th Street has seen significant changes. In the 2007 revision, the value was Rs 800 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a 213% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and subsequently increased to the current rate of Rs 2,700 per sq.ft in the 2024 revision, which is an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 238%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

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 current guideline value of Neelathottam 4th Street.

• Neelathottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 5th Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Neelathottam 1st 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 4th 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. Together, the total cost for these fees would be 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Neelathottam 4th Street?

The Sub Registrar Office that covers Neelathottam 4th Street is 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 in the registration process when buying or selling property in Sembiam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the assessed value of the property.

When engaging in property transactions, it is essential to be aware of the guideline value, as it directly affects the overall cost of registration. Buyers and sellers should consult the latest guideline values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Neelathottam 4th Street?

The current guideline value of Neelathottam 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which is an overall increase of 238%.

What is the land classification for Neelathottam 4th Street?

The land classification for Neelathottam 4th Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Neelathottam 4th Street?

The Sub Registrar Office for Neelathottam 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What fees are involved in property transactions in Neelathottam 4th Street?

In property transactions, buyers need to pay stamp duty and registration fees based on the guideline value. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,43,000.