Guideline Value for Neeradi South Street

Neeradi South Street guideline value

The current guideline value of Neeradi South Street, located in Neeradi village under the Uthiramerur SRO, is Rs 202 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Residential Special Type - IV land classification.

How the guideline value of Neeradi South Street has changed

Over the years, the guideline value of Neeradi South Street has experienced several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. The following revisions saw a significant increase, with the 2023 revision bringing the value back up to Rs 200 per sq.ft, followed by a slight increase to Rs 202 per sq.ft in the 2024 revision, reflecting a 1% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 1%. It is important to note that the guideline register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neeradi

In Neeradi village, there are 20 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 350 per sq.ft. The median value among these streets is Rs 202 per sq.ft, which is equal to the guideline value of Neeradi South Street.

• Neeradi East Street: Rs 202 per sq.ft (2024)
• Neeradi West Street: Rs 202 per sq.ft (2024)
• Neeradi Battai Street: Rs 202 per sq.ft (2024)
• Naloor Kulakkarai: Rs 202 per sq.ft (2024)
• Nalloor Kalani: Rs 202 per sq.ft (2024)
• New Vetri Nagar: Rs 201 per sq.ft (2024)

Stamp duty and registration fee for property in Neeradi South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 202 per sq.ft, the total guideline value amounts to Rs 2,02,000. The stamp duty, calculated at 7%, would be Rs 14,140, while the registration fee at 2% would be Rs 4,040. Together, the total cost for stamp duty and registration fee would be Rs 18,180. 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 Neeradi South Street?

The Neeradi South Street falls under the jurisdiction of 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 Neeradi

The guideline value plays a crucial role in the registration process of property transactions in Neeradi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value is used to determine the official value of the transaction. This helps in maintaining transparency and consistency in property dealings, as it is set by the government and is subject to periodic revisions.

Frequently asked questions

What is the current guideline value of Neeradi South Street?

The current guideline value of Neeradi South Street is Rs 202 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023, and finally to Rs 202 per sq.ft in 2024.

What is the land classification for Neeradi South Street?

Neeradi South Street is classified as Residential Special Type - IV, which indicates its designated use for residential purposes.

Where can I find the Uthiramerur Sub Registrar Office?

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

How is stamp duty calculated for properties in Neeradi?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 2,02,000 would incur a stamp duty of Rs 14,140 at a rate of 7%.