Guideline Value for Neithal Street

Neithal Street guideline value

The current guideline value of Neithal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class IV Type - II land classification.

How the guideline value of Neithal Street has changed

The guideline value for Neithal Street has undergone several revisions over the years. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, the value then decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision saw a substantial increase to Rs 3,000 per sq.ft, followed by another increase of 10% in the 2024 revision, bringing the current value to Rs 3,300 per sq.ft.

There are no recorded figures for Neithal Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in the area is Rs 4,900 per sq.ft, indicating that Neithal Street's 2024 value is below this median.

• Nehru Street (Dr. Kanu Nagar 2nd Street): Rs 2,200 per sq.ft (2024)
• Nehru Nagar New Layout: Rs 2,700 per sq.ft (2024)
• Nehru Nagar Main Road,Nesappakkam: Rs 2,700 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Nethaji Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Neithal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Neithal Street?

The Sub Registrar Office that covers Neithal Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential to refer to the latest guideline value to ensure compliance with regulatory requirements during the registration process.

Frequently asked questions

What is the current guideline value of Neithal Street?

The current guideline value of Neithal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting various revisions over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. Neithal Street's value is below the median of Rs 4,900 per sq.ft.

Where is the Sub Registrar Office for Neithal Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Neithal Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would amount to Rs 2,31,000.