Guideline Value for Neeli Veerasamy 2nd lane

Neeli Veerasamy 2nd lane guideline value

The current guideline value of Neeli Veerasamy 2nd 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 is classified as Residential Class I Type - I.

How the guideline value of Neeli Veerasamy 2nd lane has changed

The guideline value for Neeli Veerasamy 2nd lane has seen significant changes over the years. In 2002, the guideline value was Rs 674 per sq.ft, which increased to Rs 740 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 1,145 per sq.ft, reflecting a 55% increase from the previous revision. The following revision in 2012 saw a remarkable jump to Rs 6,000 per sq.ft, representing a 424% increase from 2007.

As of the 2024 revision, the guideline value stands at Rs 6,600 per sq.ft, showing a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has risen 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 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft, with the median being Rs 6,600 per sq.ft. Neeli Veerasamy 2nd lane's 2024 figure is equal to this median.

• Neeli Veerasamy 1st 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 2nd lane

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the 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, totaling Rs 5,94,000. It is important to note that 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 further assistance.

Which Sub Registrar Office covers Neeli Veerasamy 2nd lane?

The Sub Registrar Office that covers Neeli Veerasamy 2nd lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Neeli Veerasamy 2nd lane?

The current guideline value of Neeli Veerasamy 2nd lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 674 per sq.ft to Rs 6,600 per sq.ft in 2024, showing an overall increase of 879% over the years.

What is the land classification for Neeli Veerasamy 2nd lane?

Neeli Veerasamy 2nd lane is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Neeli Veerasamy 2nd lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai(pycrafts Road) Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Triplicane?

Stamp duty for properties in Triplicane is calculated based on the guideline value or the sale price, whichever is higher. This amount is then used to determine the registration fees as well.