Guideline Value for Neeradi West Street

Neeradi West Street guideline value

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

How the guideline value of Neeradi West Street has changed

The guideline value for Neeradi West Street has seen several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. This marked a substantial increase of 600%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose to Rs 700 per sq.ft in 2023 and has remained the same in the 2024 revision, showing no change from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 600%.

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, with a median value of Rs 800 per sq.ft. The guideline value for Neeradi West Street is below this median.

• Neeradi South Street: Rs 700 per sq.ft (2024)
• Neeradi East Street: Rs 700 per sq.ft (2024)
• Neeradi Battai 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, these fees would total Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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 further assistance.

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 the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately and in compliance with local regulations.

When a buyer or seller approaches the Uthiramerur SRO for registration, the guideline value will be referenced to determine the applicable fees. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Neeradi West Street?

The current guideline value of Neeradi West 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 changed from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification for Neeradi West Street?

Neeradi West Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Neeradi West Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 63,000.

Which office handles property registration for Neeradi West Street?

The Uthiramerur Sub Registrar Office handles property registration for Neeradi West Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406.