Guideline Value for Nellaiyappar 3rd Street

Nellaiyappar 3rd Street guideline value

The current guideline value of Nellaiyappar 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Nellaiyappar 3rd Street has changed

The guideline value for Nellaiyappar 3rd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 340%. However, the value dropped to Rs 1,474 per sq.ft in the 2017 revision, reflecting a decrease of 33%. Following this, the 2023 revision set the value at Rs 2,200 per sq.ft, which was a substantial increase of 49% from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 2,420 per sq.ft, a rise of 10% from 2023.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 384%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value for Nellaiyappar 3rd Street is above this median, reflecting its position within the village.

• Nellaiyappar 2nd Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Street: Rs 2,420 per sq.ft (2024)
• Nellaiyappar 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Nellipettai 2nd Cross Street: Rs 2,160 per sq.ft (2024)
• Nellaipettai High Road: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Nellaiyappar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, while the registration fee at 2% would be Rs 48,400. Together, the total cost for these fees would be Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nellaiyappar 3rd Street?

The Sub Registrar Office that covers Nellaiyappar 3rd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

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

When buying or selling property, it is essential to consider the guideline value as it affects the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Nellaiyappar 3rd Street?

The current guideline value of Nellaiyappar 3rd Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 500 per sq.ft to Rs 2,420 per sq.ft in 2024, marking an overall increase of 384%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office handles registrations for this street?

The Pallavaram Sub Registrar Office handles registrations for Nellaiyappar 3rd Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Nellaiyappar 3rd Street?

Nellaiyappar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.