Guideline Value for Neeli Veerasamy Street

Neeli Veerasamy Street guideline value

The current guideline value of Neeli Veerasamy Street 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 Street has changed

Over the years, the guideline value of Neeli Veerasamy Street has seen significant changes. In 2002, the guideline value was Rs 674 per sq.ft, which increased to Rs 1,000 per sq.ft in 2003, marking a change of +48%. By 2007, the value rose to Rs 1,145 per sq.ft, reflecting a +15% increase. A substantial jump occurred in 2012, where the guideline value reached Rs 6,000 per sq.ft, representing a remarkable +424% increase from the previous revision.

From 2012 to the latest revision in 2024, the guideline value increased by +10%, bringing it to Rs 6,600 per sq.ft. The overall change from 2002 to 2024 is +879%. It is important to note that there are no figures available 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. The median value is Rs 6,600 per sq.ft, which is equal to the 2024 guideline value of Neeli Veerasamy Street.

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

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, resulting in a total of Rs 5,94,000 for both fees. It is important to note that 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 Street?

The Sub Registrar Office that covers Neeli Veerasamy Street 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 in property transactions in Triplicane. It serves as a benchmark for determining the minimum price at which a property can be registered. When a buyer and seller agree on a sale price, the registration office will use the guideline value to compute the applicable stamp duty and registration fees.

During the registration process, if the sale price exceeds the guideline value, the duty is calculated based on the higher amount. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true market conditions.

Frequently asked questions

What is the current guideline value of Neeli Veerasamy Street?

The current guideline value of Neeli Veerasamy Street 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 significantly from Rs 674 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, marking an overall change of +879% over the years.

Where can I find the Sub Registrar Office for Neeli Veerasamy Street?

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

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. Duty is charged on the higher of the guideline value or the sale price.

Are there other streets with the same guideline value in Triplicane?

Yes, other streets in Triplicane, such as Neeli Veerasamy 1st lane, 2nd lane, and 3rd lane, also have a guideline value of Rs 6,600 per sq.ft in 2024.