Guideline Value for Neeli Veerasamy 3rd lane

Neeli Veerasamy 3rd lane guideline value

The current guideline value for Neeli Veerasamy 3rd 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 3rd lane has changed

Since the 2002 revision, the guideline value for Neeli Veerasamy 3rd lane has seen significant changes. In 2002, the guideline value was Rs 674 per sq.ft, which increased to Rs 740 per sq.ft in 2003, reflecting a change of 10%. The value then rose to Rs 1,145 per sq.ft in 2007, marking a 55% increase from the previous revision. Following this, the 2012 revision set the value at Rs 6,000 per sq.ft, which was a substantial increase of 424% from 2007. The most recent revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, representing a 10% rise from 2012.

It is important to note that the register does not have figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 879%.

Guideline values in Triplicane

In Triplicane village, 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. The median value among these streets is Rs 6,600 per sq.ft, which aligns with the current guideline value for Neeli Veerasamy 3rd lane.

• Neeli Veerasamy 2nd lane: Rs 6,600 per sq.ft (2024)
• Neeli Veerasamy Street: Rs 6,600 per sq.ft (2024)
• Neeli Veerasamy 1st lane: 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 3rd lane

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

Which Sub Registrar Office covers Neeli Veerasamy 3rd lane?

The Sub Registrar Office that covers Neeli Veerasamy 3rd 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 is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value of a property, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property's worth.

Frequently asked questions

What is the current guideline value of Neeli Veerasamy 3rd lane?

The current guideline value of Neeli Veerasamy 3rd lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What are the stamp duty and registration fees for property in Neeli Veerasamy 3rd lane?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total charges would be Rs 5,94,000.

Which Sub Registrar Office is responsible for Neeli Veerasamy 3rd lane?

The Triplicane Sub Registrar Office is responsible for Neeli Veerasamy 3rd lane, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

What is the land classification for Neeli Veerasamy 3rd lane?

Neeli Veerasamy 3rd lane is classified as Residential Class I Type - I.