Guideline Value for Neeradi West Street

Neeradi West Street guideline value

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

How the guideline value of Neeradi West Street has changed

The guideline value for Neeradi West Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a drop of 33%. Following this, the value increased significantly to Rs 200 per sq.ft in the 2023 revision, and then to Rs 202 per sq.ft in the 2024 revision, reflecting a 1% increase.

From the 2017 revision to the 2023 revision, the guideline value rose by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a slight increase of 1%. It is important to note that the revisions for the years 2002, 2003, and 2007 do not have figures available 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 guideline value for these streets is Rs 202 per sq.ft, which is the same as the current value for Neeradi West Street.

• Neeradi South Street: Rs 202 per sq.ft (2024)
• Neeradi East 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 West 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 at 7% would be Rs 14,140, and the registration fee at 2% would be Rs 4,040, making the total charges Rs 18,180. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Neeradi West Street?

The Sub Registrar Office that covers Neeradi West 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 details.

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

The guideline value is a critical factor in property transactions, as it determines the amount of stamp duty and registration fees that need to be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is used as a reference point for these calculations, ensuring that the fees are based on a standardized value.

When registering a property, the guideline value helps to maintain transparency and fairness in the transaction process. It ensures that both parties are aware of the value of the property as assessed by the government, which aids in preventing disputes related to property valuation.

Frequently asked questions

What is the current guideline value of Neeradi West Street?

The current guideline value of Neeradi West 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 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 West Street?

Neeradi West Street is classified as Residential Special Type - IV.

Where can I find the Sub Registrar Office for Neeradi West Street?

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

How is the stamp duty calculated for property in Neeradi West Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 14,140.