Guideline Value for Neeli Veerasamy 1st lane

Neeli Veerasamy 1st lane guideline value

The current guideline value of Neeli Veerasamy 1st lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Neeli Veerasamy 1st lane has changed

The guideline value for Neeli Veerasamy 1st lane has seen significant changes over the years. In 2002, the guideline value was Rs 674 per sq.ft. This figure increased to Rs 740 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 1,145 per sq.ft, reflecting a 55% increase from the previous revision. The 2012 revision saw a substantial increase to Rs 6,000 per sq.ft, which was a remarkable 424% rise from 2007.

As of the 2024 revision, the guideline value stands at Rs 6,600 per sq.ft, which is a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has increased by 879%. It is important to note that the register has no figures for the years 2017 and 2023 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a guideline value for 2024, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value of Neeli Veerasamy 1st lane.

• Neeli Veerasamy 2nd lane: Rs 6,600 per sq.ft (2024)
• Neeli Veerasamy 3rd lane: Rs 6,600 per sq.ft (2024)
• Neeli Veerasamy Street: Rs 6,600 per sq.ft (2024)
• Narayana Krishna Rajapuram St: Rs 5,500 per sq.ft (2024)
• Narasingapuram Street: Rs 16,500 per sq.ft (2024)
• Narasimhalala Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Neeli Veerasamy 1st lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neeli Veerasamy 1st lane?

The Sub Registrar Office that covers Neeli Veerasamy 1st lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Triplicane. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Neeli Veerasamy 1st lane?

The current guideline value of Neeli Veerasamy 1st lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 674 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, representing an overall increase of 879%.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office should I contact for property transactions?

The Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, covers Neeli Veerasamy 1st lane.

Are there any years without guideline values for this street?

Yes, the register has no figures for the years 2017 and 2023 for Neeli Veerasamy 1st lane.