Guideline Value for Neeradi East Street

Neeradi East Street guideline value

The current guideline value of Neeradi East Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Uthiramerur village, under the Uthiramerur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Neeradi East Street has changed

The guideline value for Neeradi East Street has seen several revisions over the years. The earliest recorded figure was Rs 100 per sq.ft in 2007. This increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 600%. However, the value then dropped to Rs 469 per sq.ft in 2017, a decrease of 33%. Since then, the value has remained stable at Rs 700 per sq.ft for both the 2023 and 2024 revisions, reflecting no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for Neeradi East Street. Overall, from 2007 to 2024, the guideline value has increased by 600%, showcasing significant fluctuations over the years.

Guideline values in Uthiramerur

In Uthiramerur, there are 180 streets under the Uthiramerur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Neeradi East Street's 2024 figure below this median.

• Neeradi Battai Street: Rs 700 per sq.ft (2024)
• Neeradi South Street: Rs 700 per sq.ft (2024)
• Neeradi West Street: Rs 700 per sq.ft (2024)
• Narasima Nagar: Rs 700 per sq.ft (2024)
• Naloor Kulakkarai: Rs 700 per sq.ft (2024)
• Nalloor Melandai Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Neeradi East Street

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Neeradi East Street?

The Sub Registrar Office that covers Neeradi East Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When a buyer or seller engages in a transaction, the guideline value helps ensure that the property is registered at a fair value, which is essential for both parties. This value is used to calculate the applicable duties, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Neeradi East Street?

The current guideline value of Neeradi East Street is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated over the years, starting at Rs 100 per sq.ft in 2007, rising to Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, and remaining at Rs 700 per sq.ft in 2023 and 2024.

What is the land classification for Neeradi East Street?

Neeradi East Street is classified as Residential Class III Type - I.

What is the stamp duty for property in Neeradi East Street?

The stamp duty for property in Neeradi East Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Neeradi East Street located?

The Sub Registrar Office for Neeradi East Street is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.