Guideline Value for Nellipettai Cross Street

Nellipettai Cross Street guideline value

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

How the guideline value of Nellipettai Cross Street has changed

The guideline value for Nellipettai Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 181 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a change of +231%. The value then rose to Rs 2,000 per sq.ft in 2012, which represents an increase of +233% from the previous revision.

From 2012 to the latest revision in 2024, the guideline value increased to Rs 2,160 per sq.ft, reflecting a change of +8%. Overall, from 2003 to 2024, the guideline value has seen a substantial increase of +1093%. It is important to note that there are no figures available for the revisions in 2002, 2017, and 2023 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO, with 2024 guideline values 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 Nellipettai Cross Street's 2024 figure below that median.

• Nellipettai 2nd 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 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 cost for these fees to Rs 1,94,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nellipettai Cross Street?

The Nellipettai 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 information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area. The guideline value acts as a benchmark for the minimum value of the property for registration purposes.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any penalties. The registration office uses this value to calculate the necessary fees, ensuring that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Nellipettai Cross Street?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 181 per sq.ft in 2003 to Rs 2,160 per sq.ft in 2024, marking an overall increase of +1093% over the years.

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 is Rs 1,51,200 and the registration fee is Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Nellipettai Cross Street?

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

What is the land classification for Nellipettai Cross Street?

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