Guideline Value for Nellipettai 2nd Cross Street

Nellipettai 2nd Cross Street guideline value

The current guideline value of Nellipettai 2nd Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Nellipettai 2nd Cross Street has changed

Over the years, the guideline value of Nellipettai 2nd Cross Street has seen significant changes. In 2003, the guideline value was Rs 181 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 231%. By 2012, the value further increased to Rs 2,000 per sq.ft, which represents a remarkable growth of 233% from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,160 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2023, 2017, and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1093%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Nellipettai 2nd Cross Street below this median.

• Nellipettai Cross Street: Rs 2,160 per sq.ft (2024)
• Nellipettai High Road: Rs 2,160 per sq.ft (2024)
• Nellipettai Road: Rs 2,160 per sq.ft (2024)
• Nemilicheri High Road Cross Street: Rs 3,520 per sq.ft (2024)
• Neelakandan Street: Rs 2,160 per sq.ft (2024)
• New Colony 10th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nellipettai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value amounts to Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, bringing the total charges together to Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nellipettai 2nd Cross Street?

Nellipettai 2nd Cross Street falls under 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 more details.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on a standardized assessment of property values in the area.

During the registration process, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the necessary fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nellipettai 2nd Cross Street?

The current guideline value of Nellipettai 2nd Cross Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 181 per sq.ft to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 1093%.

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

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office handles registrations for Nellipettai 2nd Cross Street?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, covers Nellipettai 2nd Cross Street.

What is the land classification for Nellipettai 2nd Cross Street?

The land classification for Nellipettai 2nd Cross Street is Residential Class III Type - I.