Guideline Value for Neervannan Street

Neervannan Street guideline value

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

How the guideline value of Neervannan Street has changed

The guideline value for Neervannan Street has undergone several revisions since 2003. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a significant change of +160%. The value then rose to Rs 1,340 per sq.ft in 2017, reflecting a +65% increase from the previous revision. The 2023 revision set the value at Rs 2,000 per sq.ft, which was a +49% increase from 2017. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a +10% change from 2023.

It is important to note that there are no figures available for the years 2002 and 2012 in the register for Neervannan Street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which indicates that Neervannan Street's 2024 figure is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Neervannan Street?

The Neervannan Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the guideline value is assessed to ensure that the appropriate taxes are levied. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Neervannan Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +605% over the years.

What is the registration office for Neervannan Street?

The registration office for Neervannan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for property in Neervannan Street?

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 22,00,000, with stamp duty at Rs 1,54,000 and registration fee at Rs 44,000, totaling Rs 1,98,000.

What other streets have the same guideline value in Thiruneermalai?

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