Guideline Value for Neelathottam 5th Street

Neelathottam 5th Street guideline value

The current guideline value of Neelathottam 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Neelathottam 5th Street has changed

The guideline value for Neelathottam 5th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 213%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the guideline values for the years 2002 and 2003 are not available for Neelathottam 5th Street in the register. 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 have a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Neelathottam 5th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neelathottam 5th Street?

The Sub Registrar Office that covers Neelathottam 5th 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

When buying or selling property in Sembiam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is in compliance with the regulations set by the government.

The guideline value is essential for both buyers and sellers as it helps determine the official value of the property. It is important for parties involved in the transaction to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Neelathottam 5th Street?

The current guideline value of Neelathottam 5th 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, showing an overall increase of 238% over the years.

What are the stamp duty and registration fees for property in this area?

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 Sub Registrar Office covers Neelathottam 5th Street?

The Sembiam Sub Registrar Office covers Neelathottam 5th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Neelathottam 5th Street?

The land classification for Neelathottam 5th Street is Residential Class I Type - I.