Guideline Value for Neervannan 1st Street

Neervannan 1st Street guideline value

The current guideline value of Neervannan 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Neervannan 1st Street has changed

The guideline value for Neervannan 1st Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value of Neervannan 1st Street is below this median.

• Neervannan 2nd Street: Rs 2,200 per sq.ft (2024)
• Neervannan Street: Rs 2,200 per sq.ft (2024)
• Neervannan Street 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Neervannan Street 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 2,420 per sq.ft (2024)
• Navachi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Neervannan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Neervannan 1st Street?

The Sub Registrar Office that covers Neervannan 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the value of the property for stamp duty and registration fees, ensuring that the appropriate charges are levied based on the property's assessed value.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for which the property can be registered. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Neervannan 1st Street?

The current guideline value of Neervannan 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over these years.

What are the other streets in Thiruneermalai with similar guideline values?

Other streets in Thiruneermalai with a guideline value of Rs 2,200 per sq.ft include Neervannan 2nd Street, Neervannan Street, Neervannan Street 1st Cross Street, and Neervannan Street 2nd Cross Street.

What is the registration fee for property in Neervannan 1st Street?

The registration fee for property in Neervannan 1st Street is calculated based on the guideline value. For example, for a property valued at Rs 22,00,000, the registration fee would be Rs 44,000 at a rate of 2%.

Where can I find the Sub Registrar Office for Neervannan 1st Street?

The Sub Registrar Office for Neervannan 1st Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.